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Am i still considered a FTB if ..

spelyam
spelyam Posts: 9 Forumite
in House buying, renting & selling
Hi All,
a question please.
I have a 50% share in a Buy to Let property with my brother-in-Law ( we bought his Grand mothers house )

would I still be considered a first time buyer when buying a property to live in London?
any help or advise is much appreciated .
Many thanks
Yaman :A

Comments

  • pinkshoes
    pinkshoes Posts: 20,615 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    spelyam wrote: »
    Hi All,
    a question please.
    I have a 50% share in a Buy to Let property with my brother-in-Law ( we bought his Grand mothers house )

    would I still be considered a first time buyer when buying a property to live in London?
    any help or advise is much appreciated .
    Many thanks
    Yaman :A

    No..........


    (As you already own a share of a property)
    Should've = Should HAVE (not 'of')
    Would've = Would HAVE (not 'of')

    No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)
  • Cakeguts
    Cakeguts Posts: 7,627 Forumite
    Sixth Anniversary 1,000 Posts Name Dropper
    It isn't just 1st time buyer it is also 1st time owner. You aren't.
  • G_M
    G_M Posts: 51,977 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    spelyam wrote: »
    Hi All,
    a question please.
    I have a 50% share in a Buy to Let property with my brother-in-Law ( we bought his Grand mothers house )

    would I still be considered a first time buyer when buying a property to live in London?
    any help or advise is much appreciated .
    Many thanks
    Yaman :A
    As others have said, you already own a (share of a) property, so.... no.


    However it may be relevant to ask from what perspective?


    *FTB so far as HMRC is concerned (eg SDLT)?
    * FTB so far as a mortgage lender is concerned?
    * FTB from point of view of 'help to buy'?

    or what?
  • spelyam
    spelyam Posts: 9 Forumite
    thats interesting , I m planning to a buy a property in London for under £260K mark , so any help and Support from the government would be amazing , but as I am not a first time buyer , I'm not sure if there will be any help :-(
    thanks again for all your help and answers .
  • sal_III
    sal_III Posts: 1,953 Forumite
    Fifth Anniversary 1,000 Posts
    spelyam wrote: »
    thats interesting , I m planning to a buy a property in London for under £260K mark , so any help and Support from the government would be amazing , but as I am not a first time buyer , I'm not sure if there will be any help :-(
    thanks again for all your help and answers .
    Sell you share of the BTL and use it to buy your new property. Or move in and pay only half rent to your BiL. You don't need Government help and support.
  • davidmcn
    davidmcn Posts: 23,596 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    spelyam wrote: »
    any help and Support from the government would be amazing
    It would be absolutely astounding, considering you're already a landlord.
  • _CC_
    _CC_ Posts: 362 Forumite
    spelyam wrote: »
    thats interesting , I m planning to a buy a property in London for under £260K mark , so any help and Support from the government would be amazing , but as I am not a first time buyer , I'm not sure if there will be any help :-( .


    When you come to buy a property in London you'll probably end up paying additional stamp duty (as this is an additional property purchase) so far from being helped you'll end up being penalised!
  • AdrianC
    AdrianC Posts: 42,189 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper
    "I own one house already and want to buy a second. Am I an FTB?"

    I mean, really...?
This discussion has been closed.
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