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A quick question on first time buyers.
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Pablos_d
Posts: 2 Newbie

I feel I know the answer but will keep my fingers crossed.
Many moons ago, when I was a naive young man in his early 20s, I met an older woman who I then moved in with. She very kindly put my on her mortgage, which I then paid in to for the next 13 years until, one day at the age of 35, she kicked me out without a penny and then sold the house (that I had installed new kitchens, new bathrooms, new fencing, new etc etc....) for over a hundred thousand pounds profit.
I did call a legal company who informed me that, as I hadn't made a claim for part of the house before it was sold, and we weren't married, and I wasn't on the deeds, I wasn't automatically entitled to a share of the profit. They said that the only thing I could do is sue for it, but it would involve spending months and months going through every single bank statement from the past 13 years and calculating how much I probably put in and then trying to claim that back. But they said there's no guarantees and that it would take so long that any potential wins would be swallowed up by all the legal fees.
Now I'm in my forties and doing so much better at life and I want to buy a house (but for real this time) with my girlfriend. She is a proper first time buyer, having rented for years. But I think she will lose any benefits of buying for the first time if she buys with me. And I earn twice as much as her so she wouldn't get a house the size we would need on her own.
Is there any way I could be considered a first time buyer? I didn't really know about deeds and things in those days. I basically paid someone else's mortgage for a bunch of years without actually owning anything and left no better than when I entered, only with a decade less life left.
I feel it's so unfair.
Thank you for your time.
Many moons ago, when I was a naive young man in his early 20s, I met an older woman who I then moved in with. She very kindly put my on her mortgage, which I then paid in to for the next 13 years until, one day at the age of 35, she kicked me out without a penny and then sold the house (that I had installed new kitchens, new bathrooms, new fencing, new etc etc....) for over a hundred thousand pounds profit.
I did call a legal company who informed me that, as I hadn't made a claim for part of the house before it was sold, and we weren't married, and I wasn't on the deeds, I wasn't automatically entitled to a share of the profit. They said that the only thing I could do is sue for it, but it would involve spending months and months going through every single bank statement from the past 13 years and calculating how much I probably put in and then trying to claim that back. But they said there's no guarantees and that it would take so long that any potential wins would be swallowed up by all the legal fees.
Now I'm in my forties and doing so much better at life and I want to buy a house (but for real this time) with my girlfriend. She is a proper first time buyer, having rented for years. But I think she will lose any benefits of buying for the first time if she buys with me. And I earn twice as much as her so she wouldn't get a house the size we would need on her own.
Is there any way I could be considered a first time buyer? I didn't really know about deeds and things in those days. I basically paid someone else's mortgage for a bunch of years without actually owning anything and left no better than when I entered, only with a decade less life left.
I feel it's so unfair.
Thank you for your time.
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Comments
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No, you aren't a first time buyer now unfortunately. What benefits are you hoping to get by being classed as a first time buyer?0
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Although in saying that, if you were not put on the deeds of the previous property you wont have been a home owner. How was the previous mortgage set up so you were added on to the mortgage but not the deeds? There are a couple of options for this but not sure if they were common that long ago.0
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If you were not on the deeds then it was very unlikely you were ever on the mortgage. If you on the mortgage then the solicitor handling the sale would of needed your ID and signature.
Think you have been ripped - but still a first time buyer.0 -
Thank you for the replies.
I voluntarily went on the mortgage. She said it would be a good idea. But I'd moved in with her straight from my Mom's house and didn't know about deeds and things and was 11 years younger than her and very naive. I just thought the house automatically became "ours" once we got a joint mortgage but apparently not. Alarm bells started ringing when, after 13-14 years in to it, she told me she'd done a will and when I sneaked a peak it said was leaving the whole house to the children and nothing to me. The will specified I could live in it until the last child turned 18 (which was another 13 years and would've made me approaching 50) but then I would just have to leave so it could be sold and split for the kids. I still don't really know how I could have been buying and paying for a house but never really owning it. But that's how it seems to be. Hindsight makes things so beautifully clear!
I'm not really sure about what benefits but everything in the news always says first time buyers can get this or that... Buying assistance, help to buy, Lisa, lower deposits, stamp duty offers, etc etc....
But I guess that being sad about it won't help and I'll just have to save up more ages do it properly.
Thank you though.0 -
I'm not sure about the rest but your girlfriend could still get a LISA account and use that towards the deposit assuming she is under 40.0
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