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Can i be classed as a First Time Buyer if my Spouse owns a property.
KAG1072
Posts: 1 Newbie
Just ownderign if anyone knows if I can still be classed as a first time buyer ,even though my husband owns a property?
I am not on the deeds, and I don't pay the mortgage.
im looking to take advantage of either a first time buyer mortgage or the government equity scheme,
but because my husband owns a property I am not sure I can .
He wont be on the new mortgage so it will be based purely on my income.
any ideas ?
I am not on the deeds, and I don't pay the mortgage.
im looking to take advantage of either a first time buyer mortgage or the government equity scheme,
but because my husband owns a property I am not sure I can .
He wont be on the new mortgage so it will be based purely on my income.
any ideas ?
0
Comments
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Yes you would be a first time buyer under those circumstances.0
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Wrong isn't it?0
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These are schemes designed to help people buy a home to live in.0
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That'll be a second home then.0
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You'll be fine OP. Go for it.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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there is no legal status of first time buyer
when there was stamp duty relief the land registry / hmrc applied very strict rules on who they considered first time buyers. However mortgage companies offering incentives to first time buyers can be much more or much less tight on who they consider a first time buyer and who they give the incentives to.
As far as i know there are no longer any government schemes which are restricted to first time buyers, they are instead generally restricted to those who would not own any other property after the purchase, i am not too sure what the homebuy agents would make of someone applying who is married to someone owning property, but i expect for someone like that to be accepted they would need to prove the partner's property was not a marital asset.0
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