first time buyer

M

maradonna

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does anyone know if you still qualify as a first time buyer if you get married and your wife already owns a house? if not are there anyways around this? when are the govenment going to make a decision on the stamp duty - this could be one way out of it? just pay the property tax?
 
Looks like the answer is no :(

Who is a first time buyer?

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
  • where no rent, other than rent obtained under rent a room arrangements, is derived from the property for a period of two years from the date of the purchase. This relief is subject to clawback provisions.

    Prior to 5 December 2007, the period where no rent could be obtained was five years. Under the Finance Act 2008, this period has been reduced from 5 years to 2 years for deeds executed on or after the 5 December 2007.

    For instruments executed before 5 December 2007, to the extent that a dwelling house or apartment is rented out on or after 5 December 2007, it will not involve a clawback of the relief where this occurs in the third, fourth or fifth year of ownership.
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thought that might be the case -looks like we will have to purchase pre marriage and hope that nama will take the other property off us :)
 
Why if you intend to get married are you going to buy another house if you already have one?
Is your intending wife having difficulty paying the mortgage? Is this what you mean by hoping NAMA will take it from you?
 
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