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Legal charge - first-time buyer
Ed-1
Posts: 4,024 Forumite
If you have a legal charge registered on a property to repay you X amount on the sale of the property but have never been the legal owner of a property, are you still a first-time buyer for using a LISA for first-time property purchase?
See paragraph 6 of the Schedule to the regulations: http://www.legislation.gov.uk/uksi/2017/466/regulation/31/made
Similarly for qualifying for first-time buyer stamp duty relief:
Is being the lender in a legal charge a "major interest" in a dwelling?
See paragraph 6 of the Schedule to the regulations: http://www.legislation.gov.uk/uksi/2017/466/regulation/31/made
Similarly for qualifying for first-time buyer stamp duty relief:
Is being the lender in a legal charge a "major interest" in a dwelling?
0
Comments
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IANAL
Have a look on the land registry,
Are you down as the owner?
If not, i dont see why you wouldnt qualify to be a first time owner (assuming you never owned anywhere else) after all a mortgage company is not the legal owner of a property and thats more the role you seem to have.0 -
you don't have a 'major interest' in the property. You have an interest in the debt.
You are a FTB.0
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