Conflicting Information on FTB Status

luiza8

Hi all!

I am getting conflicting information from my broker and lenders about if we are a FTB.

My boyfriend is Italian and has a house in Italy that he has a mortgage on and rents this out. He will be keeping the property as he gets rental income from it.

My broker which is recommended in Martin's "First Time Buyers Mortgage Guide 2019" seems to think we're not first time buyers as my boyfriend has a house overseas. However, I have spoken with a couple of well known high street lenders who have said that we are FTB if I am the principal name on the mortgage and my boyfriend is second on the joint mortgage.

Can anyone clear this up a little as we are super confused.

Tried calling my broker but their advertised hours of 8am-8pm are for new enquiries only, and since we have a DIP we are not in that category!

Thanks

davidmcn

FTB for what purposes? Mortgage, SDLT, etc? There isn't a universal definition.

Tom99

He is not a FTB for stamp duty purposes and if the property he owns is worth more than £40,000 you will pay the 3% additional stamp duty as well.

kingstreet

Your application may qualify for an FTB product from some lenders, not from others.

There is no standard definition, so no-one is fully right or fully wrong.

As stated, you will not qualify for FTB SDLT exemption and will pay the second property surcharge if your partner's share in the property in Italy is worth more than £40,000