FTB looking to buy?

[rocky888]

Hello i am looking for a bit of buying advice:

I am looking to buy sometime this year. At the moment the houses we are looking at are between 320,000-310,000 in Naas(it is location we are set on). We are hoping to offer 200,000 at some stage this year(probably late on with the current climate)

I am a first time buyer while she had bought an apartment 2years ago and has a mortgage of €130,000 (impossible to sell but currently rented for the value of the mortgage she is paying(only readvertised lately for tenants and there is load of takers)

Our combined salary is 40K her /40K me.
Our combined savings we are looking close to 50K within the next couple of months.
Jobwise - She is save being a nurse / my job is guaranteed save for at least 2-3years (then maybe question mark)

I am wondering because she has the apartment should i go as myself as FTB for the house hopefully at €200,000 (then sign half to her)

What would you consider the best options?

 

[Senna]

I take it you are not married, if not then you should try to buy on your own, you will get more Interest relief on your own as a FTB and not have to pay stamp duty. If you have 50k of a deposit and a 200k purchase price, then it is possible you will get a mortgage on your own.

Regarding the signing half to her afterwards, this would effect your Interest relief (first 7 years anyway). And she would have to pay stamp duty also.

 

[LDFerguson]

Senna is not entirely correct on the Tax Relief at Source part. If a FTB and a non-FTB buy together, the FTB gets the higher rate of TRS while the non-FTB doesn't, unless they're still within seven years of buying their first home.

 

[rocky888]

Thanks for your replies,

I ask this question as i am worried that the fact she has an apartment might have an impact on loan approval?

Would it be highly unlikely would a bank touch us going together on a house with the apartment?