New old cash buyer (ish) 😁

kaya

In the final throwers of divorce at the moment so hopefully finances should be finalised within the next few months, I've never brought a house or had a mortgage (current home is in my wife's name) so I am classed as a first time buyer, my new partner has had mortgages before and has just accepted an offer on her house. We are buying a home together as soon as our divorces and finances are settled so within the next couple of months. I will have around £260,000 in cash as a divorce settlement  and my new girl will have around £200,000 cash from hers and we are putting the entire lot into a new home family home together for us and our kids (new to us not a new build) . We will probably need get a small mortgage of around £40-50k to make the total up to 1/2 mil which is the price bracket we are looking at. I am disabled so don't work and haven't for 15 years and my partner has a secure job with a decent wage. (although I have a business plan laid out and ready to go as soon as things calm down) Are there any schemes anyone knows of that would be beneficial? As a first time buyer I get the stamp duty reduction but my gf won't so will it be applicable to half the property cost as we are joint purchasers and the house will be in joint names but she would pay the full amount on her share ? I'm unsure if they will allow me on the mortgage due to my disability and only having benefits as an income and we will pay the mortgage off in full in the first 24 months as we will have a decent disposable income between us and the mortgage will be our only financial liability, the initial plan was to buy cash in my name only  to get the max stamp duty discount then immediately put it into joint names but I'm guessing that won't be possible as we need a mortgage on it which will either be in her name alone or joint names. Any thoughts or advice from the mse massive welcomed 

seradane

As I understand it, both parties have to be first home buyers to be eligible for any schemes, including the stamp duty reduction.

In theory you could get the government bonus with a LISA, but not if you're over 40, and to be honest the volume of your deposit plus it sounds like you want to move fairly quickly (within the next year) might mean that isn't really worth it either.