Buying a Hous & future finance implications

[gerryg]

Hi,
Im currently considering buying an affordable house, and would like some advise as to the implications this purchase would have to any future property purchase joint or otherwise

Once i make this purchase, as this is my first time buyers, i will lose my first times buyer's grant & also my mortgage tax relief for FTB on any future property purchase's.

When i choose to buy somewhere with my GF,will we have to pay stamp duty even if my GF is a FTB? Or is there a way around this (eg 2 names on mortgage 1 name on deed) ?

Also in regards to mortgage tax relief do both parties who are involved in the mortgage have to be FTB's?

Thanks
G

 

[NorfBank]

You won't lose your TRS on future purchases. This will last for your first 7 years as a FTB.
If you buy jointly and your GF is contributing to the mortgage, then she will lose here FTB status so you will both be treated as second time buyers. See here

[broken link removed]

Both parties do not need to be FTBS but only the FTB will get the full TRS.