House being purchase via a trust, will I still be considered a first time buyer?

Hi, 
I am a trustee on a trust account along with another family member. - they are purchasing a property via the trust which will be held in the trusts name. I am a trustee on this and have to confirm any payments going out of the account so I assume I will have to sign any paperwork needed to purchase the property. I’m wondering, If the property is purchased through the trust, will I still be considered a first time buyer and able to use my help to buy isa when I want to purchase my own property (whenever that may be) at a later date? 

TIA 

Replies

  • AdrianCAdrianC Forumite
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    The trust will own the property, not the trustees.

    Are you also a beneficiary of the trust?
  • krissy20krissy20 Forumite
    5 Posts
    First Post
    AdrianC said:
    The trust will own the property, not the trustees.

    Are you also a beneficiary of the trust?

    Thankyou! No, I’m not a beneficiary of the trust - however if anything was to happen to my mum, then the trust will come to myself and my brothers and sisters to sort between us. So was unsure again where this would leave me. 
  • AnniseleAnnisele Forumite
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    According to this, you'll keep your FTB status "if you are only acting in a trustee role and will not be entitled as a beneficiary in the future". So I think it depends on what you mean by the trust coming to your and your siblings to sort between you.

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