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First time buyer status when applying for a mortgage

  • 22-10-2020 12:01pm
    #1
    Meandyou999
    Registered Users, Registered Users 2 Posts: 39 ✭


    According to the official Central Bank of Ireland definition, a first-time buyer (FTB) is an individual who has never before, either by themselves or with others, purchased a house, apartment, or a site to build a home, in Ireland or abroad. When it comes to applying this definition to the sale and purchase of mortgages, a FTB is, “a borrower to whom no housing loan has ever before been advanced”.
    My parents sold there house and bought a house and put it in my name.
    As im my case i have never been advanced a loan to purchase a house. When it comes to applying this definition to the sale and purchase of mortgages, a FTB is, “a borrower to whom no housing loan has ever before been advanced”.
    Am i still a first to buyer when appling for a mortage. 10% deposit rather than 20% deposit.


Comments

  • #2
    mystic86
    Registered Users, Registered Users 2 Posts: 2,983 ✭✭✭mystic86


    Meandyou999 wrote: »
    According to the official Central Bank of Ireland definition, a first-time buyer (FTB) is an individual who has never before, either by themselves or with others, purchased a house, apartment, or a site to build a home, in Ireland or abroad. When it comes to applying this definition to the sale and purchase of mortgages, a FTB is, “a borrower to whom no housing loan has ever before been advanced”.
    My parents sold there house and bought a house and put it in my name.
    As im my case i have never been advanced a loan to purchase a house. When it comes to applying this definition to the sale and purchase of mortgages, a FTB is, “a borrower to whom no housing loan has ever before been advanced”.
    Am i still a first to buyer when appling for a mortage. 10% deposit rather than 20% deposit.

    How is this a question for tax heads..?


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