Are WE first time buyers?

rjg1975

I have a 35% share in a shared ownership property I bought/rented 3 years ago. Since then I've got married and my wife is living with me. We want to move and were wondering if looking at properties/loans for first time buyers, including shared ownership, whether as a COUPLE we would be considered first time buyers, the apartment we live in remains in my name only.

Thanks for any thoughts/info.

Richard.

chris_m

IIRC if either of you have previously owned property you are not eligible to call yourself first-time buyers.

InkZ

nope, you are home movers.

hcb42

no, you are not

googler

It'll depend on different loan providers whether or not they want to regard you both as FTBs, so you'd need to check with them.

As regards the HMRC rules on Stamp Duty relief for FTBs, you definitely don't qualify for that, from what you've said here.

PasturesNew

The "point" of the FTB/stamp duty thing was to enable people who hadn't ever managed to get a house, to be suckered into believing now was the time as they'd save a few quid.

You've already had, and taken, your chance. And that's why you aren't a FTB, singley or coupley

Richard_Webster

Please understand that there is no universal legal definition of "First Time Buyer".

There is one for SDLT, and has been said already, you do not quailfy for that - how lenders look at it is a matter for them - they invent their own definitions for their own purposes.