First time Buyers?

S

swgirl

Registered User
Messages
40
Hi again,

Another question from me, we are in the process of buying(hopefully), we bought a house in 1995 through shared ownership with co council, we sold it in 1997. We have'nt owned a property since. Are you classed as a FTB after a period of time or am I just imagining that I saw this somewhere.

Thanks a mil

sw girl
 
No, as you've already owned a property, you cannot be classified as a FTB, even though it was ten years ago.
 
You are not a FTB for stamp duty purposes. If you are not buying a new home under 125sqm or a second hand house under €127K then SD is relevant. If you did not claim your full 7 years of owner occupier mortgage interest relief then you are still a FTB for interest relief purposes for whatever remains of that period.
 
Thanks a mil, we never claimed any mortgage relief at all on our shared ownership loan.

sw girl
 
WE were not well informed at the time, council were a disaster to deal with, eleven years ago there was'nt the same information available as there is now, sounds daft i know.

sw girl
 
Fair enough. You're probably better off claiming it these days anyway since the FTB period is now 7 instead of 5 years and the rates of relief are much higher.
 
Thanks Clubman, and all, great to be able to ask these questions and get good advice.

sw girl
 
You must log in or register to reply here.
Menu
Log in
Register