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First time buyer for my partner but not for me?
gsawyer92
Posts: 2 Newbie
Hi,
Myself and my partner currently live together in a house that I own, however he has never owned a property and would therefore in the future be a first time buyer.
How does this work if we wanted to buy a property together in the future? We would obviously want to make the most of his first time buyer status (No stamp duty, and using the Newcastle Building Society LISA)
Does anyone know how this would be possible to buy a property together but use his first time buyer status?!
Maybe not in the right thread but hopefully someone can help
Thanks so much!
Myself and my partner currently live together in a house that I own, however he has never owned a property and would therefore in the future be a first time buyer.
How does this work if we wanted to buy a property together in the future? We would obviously want to make the most of his first time buyer status (No stamp duty, and using the Newcastle Building Society LISA)
Does anyone know how this would be possible to buy a property together but use his first time buyer status?!
Maybe not in the right thread but hopefully someone can help
Thanks so much!
0
Comments
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So I think he would be able to use the LISA and claim the bonus as he is a FTB. It doesn’t matter that you aren’t a FTB.
But as far as I am aware, if you buy a property together and are both on the deeds, he will not be able to claim any stamp duty exemption due to you having previously owned a property.
If he was to buy just in his name (and you are not a married couple) then he would be able to claim stamp duty exemption.0 -
Myself and my partner are the opposite way around (I'm the FTB, he isn't). We are just buying a house now. No stamp duty exemption. I could have used the LISA help to buy ISA however at the time when I realised the timescale was short so didn't seen worth it for me (I wish i had now but that's another story!)0
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First Time Buyer relief only applies if all purchasers are entitled to claim the same. You will therefore not be able to claim this relief if you purchase in joint names.
However the LISA / HTB ISA rules applies to the individuals, so your partner can use either of these (but not both).0
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