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Am I a first time buyer?
79JadeLPS
Posts: 4 Newbie
Husband is leaving the military next year so despite the terrible economic climate, we are looking to buy a house. This is unlikely to happen before the stamp duty holiday.
However, we will only be looking at 300k house prices or under. I can see that before the 'holiday', as first time buyers this would still mean we wouldn't be paying stamp duty.
However, around 12 years ago, I bought a shared ownership flat on my own. I sold it 10 years ago, making a loss (market crashed 2 weeks after it was marketed).
So question is, now that we are buying the house together, would WE still be classed as first time buyers, or would my previous 55% shared ownership go against us in this regard?
I'm just working out how much we need for fees and other costs etc.
Thanks 😊
However, we will only be looking at 300k house prices or under. I can see that before the 'holiday', as first time buyers this would still mean we wouldn't be paying stamp duty.
However, around 12 years ago, I bought a shared ownership flat on my own. I sold it 10 years ago, making a loss (market crashed 2 weeks after it was marketed).
So question is, now that we are buying the house together, would WE still be classed as first time buyers, or would my previous 55% shared ownership go against us in this regard?
I'm just working out how much we need for fees and other costs etc.
Thanks 😊
0
Comments
-
No, you are not a FTB for stamp duty purposes.
May be a FTB for a mortgage due to how long ago you last owned a property, this varies lender to lender.Mortgage started 2020, aiming to clear 31/12/2029.3 -
You have bought, owned, sold a property before. No, you are not an FTB.
If you are buying jointly, then both joint owners need to be FTBs for the purchase to count as an FTP.2 -
So you've bought a property before but don't know if you've bought before?
Sigh!5 -
Think of it like virginity. No one is 45% a virgin, no matter how it worked out!
3
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