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Help to Buy Isa

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Comments

  • jimjames
    jimjames Posts: 18,977 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    rrlafferty wrote: »
    Looking for help. My mum did a transfer of equity of her house into my name. Does this make me ineligible as first time buyer even if ive never had a mortgage?
    It's not mortgage that matters it's ownership of property
    Remember the saying: if it looks too good to be true it almost certainly is.
  • rrlafferty
    rrlafferty Posts: 4 Newbie
    So I wouldn't be eligible?
  • rrlafferty
    rrlafferty Posts: 4 Newbie
    If I were to transfer this again would I then be eligible or does it depend on the bank?
  • bsms1147
    bsms1147 Posts: 2,279 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    rrlafferty wrote: »
    So I wouldn't be eligible?
    Correct.
    rrlafferty wrote: »
    If I were to transfer this again would I then be eligible or does it depend on the bank?
    As far as I'm aware, nothing you can do will make you eligible.
  • rrlafferty
    rrlafferty Posts: 4 Newbie
    jimjames wrote: »
    It's not mortgage that matters it's ownership of property


    The banks seem to be unsure if this counts. Should I just apply anyway? Or should I transfer property again, would be a shame if I cant get this as it is defo my first 'buy'
  • Eco_Miser
    Eco_Miser Posts: 4,965 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    rrlafferty wrote: »
    Looking for help. My mum did a transfer of equity of her house into my name. Does this make me ineligible as first time buyer even if ive never had a mortgage?
    If you have ever owned any interest in a house you do not qualify for the HTB ISA. You could have got that interest by inheritance, or gift, or outright purchase, still means YOU DO NOT QUALIFY.
    Eco Miser
    Saving money for well over half a century
  • jimjames
    jimjames Posts: 18,977 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    rrlafferty wrote: »
    The banks seem to be unsure if this counts. Should I just apply anyway? Or should I transfer property again, would be a shame if I cant get this as it is defo my first 'buy'

    Depends if you're prepared to lie on the ISA application form if it asks if you've ever owned property before. I personally wouldn't want to.
    Remember the saying: if it looks too good to be true it almost certainly is.
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