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  • FIRST POST
    • White_Tara
    • By White_Tara 9th Aug 18, 1:23 AM
    • 2Posts
    • 0Thanks
    White_Tara
    Am I a first time buyer?
    • #1
    • 9th Aug 18, 1:23 AM
    Am I a first time buyer? 9th Aug 18 at 1:23 AM
    Hi all,

    I was wondering if you can help me get to the bottom of something. I want to use LISA and cash ISA to buy my first flat as many people under 30. However, I have read the description which says that I should not own a property outside the UK. I am a British citizen born outside the UK where my parents still live. They divorced when I was young and passed our small family flat to my sister and me on the condition my mum can live there (it is in the contract/divorce settlement). She still lives in the flat and I haven't lived with her for over 10 years now.

    Does it mean I don't qualify as a first time buyer but I can still use ISA cash accounts for flat buyers? Is there any other help I can use? Any advice would be much appreciated.
Page 1
    • White_Tara
    • By White_Tara 9th Aug 18, 1:25 AM
    • 2 Posts
    • 0 Thanks
    White_Tara
    • #2
    • 9th Aug 18, 1:25 AM
    • #2
    • 9th Aug 18, 1:25 AM
    Just a quick clarification. The flat is not in the UK but in the EU.
    • Pixie5740
    • By Pixie5740 9th Aug 18, 8:04 AM
    • 13,371 Posts
    • 19,261 Thanks
    Pixie5740
    • #3
    • 9th Aug 18, 8:04 AM
    • #3
    • 9th Aug 18, 8:04 AM
    Hi all,

    I was wondering if you can help me get to the bottom of something. I want to use LISA and cash ISA to buy my first flat as many people under 30. However, I have read the description which says that I should not own a property outside the UK. I am a British citizen born outside the UK where my parents still live. They divorced when I was young and passed our small family flat to my sister and me on the condition my mum can live there (it is in the contract/divorce settlement). She still lives in the flat and I haven't lived with her for over 10 years now.

    Does it mean I don't qualify as a first time buyer but I can still use ISA cash accounts for flat buyers? Is there any other help I can use? Any advice would be much appreciated.
    Originally posted by White_Tara
    You won't qualify for the LISA bonus for FTB because you already own a property elsewhere in the world. You won't qualify for the FTB SDLT relief either. You can use your savings in your cash ISA as a deposit though.

    https://www.helptobuy.gov.uk/documents/2015/12/eligibility-of-ftbs.pdf

    https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/661728/8274_guidance_note_SDLT_relief_for_first_time_buye rs.pdf
    • Soundgirlrocks
    • By Soundgirlrocks 9th Aug 18, 11:53 AM
    • 568 Posts
    • 851 Thanks
    Soundgirlrocks
    • #4
    • 9th Aug 18, 11:53 AM
    • #4
    • 9th Aug 18, 11:53 AM
    OP, I disagree with Pixie5740 slightly.

    You need to be certain about how the property your mother lives in is owned. It may be in trust, and you won't actually own it until your mother chooses not to live there. I had a similar situation when I bought my flat. It is worth double checking the actual legal position.
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