First time buyer benefits when partner not eligible

katsushi44

Hello, my partner and I would like to buy a house. I can't benefit from the first buyer scheme because I have had properties in the past but my partner can. I would appreciate an opinion about how feasible is to retain the incentives that my partner has a first-time buyer. 

1-Can my partner buy a house as a first-time buyer (no stamp duty + use her help to buy ISA) and then I buy a share of the property so we can share the mortgage?

2- Can I buy a share of a property bought under the first home scheme (the new buildings that cost 30-50% less)?

3-We are not married at the moment, will buying the house when not married and then getting married mean that the house will become a marriage asset and therefore it will be like if I paid half of the deposit that my partner paid because I own half of the house?

Thank you

Flugelhorn

1. would you have to reapply for  the mortgage and pay stamp duty ?

2. I think only FTB can buy FTB scheme houses 

propertyrental

katsushi44 said:

Hello, my partner and I would like to buy a house. I can't benefit from the first buyer scheme because I have had properties in the past but my partner can. I would appreciate an opinion about how feasible is to retain the incentives that my partner has a first-time buyer. 

1-Can my partner buy a house as a first-time buyer (no stamp duty + use her help to buy ISA) and then I buy a share of the property so we can share the mortgage?

Yes provided your partner can afford to buy the property in his/her sole name with a motrtgage (if reqiuired) in his/her sole name

2- Can I buy a share of a property bought under the first home scheme (the new buildings that cost 30-50% less)?

Sorry don't know - read the first home scheme terms.

3-We are not married at the moment, will buying the house when not married and then getting married mean that the house will become a marriage asset and therefore it will be like if I paid half of the deposit that my partner paid because I own half of the house?

yes unless you purchase as Tenants in Common with different % ownership - but even then the marital assets would be assessed as a whole on divorce

Thank you

comments in bold

https://www.gov.uk/first-homes-scheme

If you’re buying with others: 

you must all be first-time buyers

• you must apply together, even if you’re not all getting a mortgage
• your joint income cannot be more than £80,000 a year before tax (£90,000 if the property is in London)

Your joint income is the total of what you all earned in the previous tax year.

katsushi44

Flugelhorn said:

1. would you have to reapply for  the mortgage and pay stamp duty ?

2. I think only FTB can buy FTB scheme houses 

Thanks you triggered a question in my mind about the stamp duty and I got the answer here gov.uk/guidance/sdlt-transferring-ownership-of-land-or-property
 1-I would extinguish my partner's mortgage or join it because the house will need renovation anyway.