Can somone revert to FTB status?

J

JJ1982

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Hi,

Myself and partner are currently buying a house. I am a FTB he however is not. He bought a home in late 2006 which he is now going to rent out so needs to pay stamp duty on this now as it is no longer his residence.

Does this mean that he can revert to FTB status as he is now going to pay stamp on the rental property?
 
JJ1982 said:
Hi,

Myself and partner are currently buying a house. I am a FTB he however is not. He bought a home in late 2006 which he is now going to rent out so needs to pay stamp duty on this now as it is no longer his residence.

Does this mean that he can revert to FTB status as he is now going to pay stamp on the rental property?
Click to expand...

Simple answer is no.
 
No - he was and can only be a First Time Buyer once for Stamp Duty calculations.

However, you will both get First Time Buyer Tax Relief at Source (TRS) - you for 7 years and he for the balance of 7 years since he first purchased.
 
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