First Time Buyer - Options

soloeffort

Registered User
Messages
17
My brother purchased a house 1 years ago but was unable to get the full mortgage on his own so I helped him out. We were told that we would both loose out First Time buyers grant because we are both on the mortgage and deeds of the property. Does this make sense that 2 people would loose their first time buyers option for purchasing only 1 house?
The reason I ask is that I do not leave in the house and am looking to buy a house of my own at the moment. What are my options ot have I lost my first time buyers allowance?
 
Yes - if your name is on the deeds, you own the house, so you cannot be classed as a first time buyer.

Incidently, the first time buyers grant hasnt existed for years. First time buyers are entitled to some stamp duty and mortgage interest relief advantages.
 
You are not a first time buyer. It does not matter that you did not live in the house. You have already bought a house. You are not a first time buyer. You will be considered a second time buyer when you buy again. You will not pay any stamp duty if you buy a new house under 125sq.m. You will pay stamp duty on a second hand house. Revenue deal with all of this in their leaflet SD10A.

mf