Am I a first time buyer?

creadhead

Hoping someone can help. Given todays budget announcement with reference to exemption from stamp duty for first time buyers, I need to know if the governments definition of a first time buyer covers me.

I have previously owned properties but sold my home 3 years ago and moved abroad. I have rented for 3 years and have now returned to UK. Just had an offer accepted for a house at £210,000. A Mortgage advisor reckoned we would be classed as first time buyers. I hope so as I will save £2100, given todays budget. Anyone know where I can get advice on this?

gmang

creadhead wrote: »

I have previously owned properties...

That's all that matters. You are not a FTB.

creadhead

now I'm gutted!

TrickyDicky

Go in and re-offer them £207900

dimbo61

Sorry you have lost me !!!!
Stamp duty is no longer being charged on properties upto £250,000 so creadhead you wont have to pay £2100 to the government in stamp duty on your new home.
Now being classed as a First time buyer is about any new deals being offered by lenders to help people get on the housing market

Dom3663

Stamp-duty has only been raised to £250k for First Time Buyers

dimbo61

Sorry I have got it wrong so you wont pay stamp duty on a property upto £250K IF YOU are a first time buyer!
Interesting how they are going to work that one out
" not owned a home anywhere in the world "

Dom3663

Yea, which explains the amount of confused people on here asking if they're FTB's

gmang

Generally, if you need to ask, the answer is usually no.

BellaT81

Ok, can someone enlighten me on this whole 'no stamp duty business'? We have just had an offer accepted on a house of £164,500 and definitely ARE first time buyers (neither of us has ever owned a property in the UK or abroad) - does this mean no stamp duty? Where can I find a reliable source for this information?

Thanks,
Bella

nsimpson123

Bella, yes that's right no stamp duty for you :T