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HELP! . LISA... First time buyer?
ScoopDogg
Posts: 11 Forumite
Hi all. I was hoping somebody of knowledge could help me. My partner and I both want to set up LISA's for help to buy our first home together.
Problem is my partner recently inherited a 17% share in a property which still had mortgage left to pay off.
Our question is does that class her as a home owner?
To be clear the property was shared to the ratio of
17% my partner
17% her brother
17% her sister
49% theyre mother.
None of them lived in the property at the time and it was sold quite quickly.
Does this class her as a home owner and unentitled to the LISA first time buyer bonus? Or are we right in thinking they're mother was the main home owner?
Worse case, would I still qualify for the bonus?
Thanks in advance to anyone that could share light on this for us.
Problem is my partner recently inherited a 17% share in a property which still had mortgage left to pay off.
Our question is does that class her as a home owner?
To be clear the property was shared to the ratio of
17% my partner
17% her brother
17% her sister
49% theyre mother.
None of them lived in the property at the time and it was sold quite quickly.
Does this class her as a home owner and unentitled to the LISA first time buyer bonus? Or are we right in thinking they're mother was the main home owner?
Worse case, would I still qualify for the bonus?
Thanks in advance to anyone that could share light on this for us.
0
Comments
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It'll depend on exactly how the estate was processed and at what stage the property was sold, i.e. whether she was at any stage technically a part-owner or if it was sold within the estate before that point. The size of the stake doesn't make a difference though.
Your first-time buyer status isn't affected.1 -
Thanks alot.. I'll find out the additional information0
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