First time buyer status

M

mek1

Guest
If someone purchased agricultural land years ago with the intention of getting planning permission to build--but never got any planning permission--still remains as agricultural land.
Did they lose their first time buyer status in relation to claiming mortgage interest relief and stamp duty rates on purchase of a house?
 

No. FTB status relates to holding "residential property". A site (even one with planning" is not residential property.
 
Thanks for that

What if we bought a site and built a house on that site and then subsequently purchased another house?
Do we lose our first time buyers status then in relation to stamp duty and mortgage interest relief?
 
mek1 said:
Thanks for that

What if we bought a site and built a house on that site and then subsequently purchased another house?
Do we lose our first time buyers status then in relation to stamp duty and mortgage interest relief?
Click to expand...

First time buyers status in relation to mortgage interest relief lasts for 7 years from your first purchase regardless of whether you buy another property in those 7 years. You will lose your FTB status in relation to stamp duty though.
 
if you look at the revenue website and google sd10A you will find the following information:

"A First Time Buyer is a person, (or, where there is more than one buyer, each of such persons):
who has not on any previous occasion, either individually or jointly, purchased or built on his/her own behalf a house (in Ireland or abroad) and
where the property purchased is occupied by the purchaser, or a person on his behalf, as his/her only or principal place of residence and"


mf
 
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