Are we first time buyers?

keith_45

I have a house, solely in my name. If I sell it and buy a new house with a partner who has never owned a house before, are we first time buyers or not? As I'm not but she is

keith_45

!!!!. I think I've already answered my own question with the answer I'd rather not hear. If one of us has owned a property previously then we aren't eligable.

Stamp duty should be on a sliding scale anyway

KingElvis

No you're not. Your mortgage payment will show on your credit history and the lender would see that and call it a day.

DVardysShadow

There is no universal definition of FTB. The one used for SD exemption excludes anyone who has ever owned property for example by inheritance but who may never have actually bought a property. The lenders tend to use a definition of not having owned in the last 6 months

holly_hobby

You are not classed as a FTB if you have previously held an interest in any property (which also includes inherited i.e not purchased with a mortgage).

So although you partner is FTB, you cancel her out if that makes sense.

You therefore qualify for standard SDLT nil rate band which is currently 125K (2011/2012) .

Hope this helps

Holly