Marriage and First time Buyers

E

emc2

Registered User
Messages
12
Hi guys,

Just wondering if you lose your First time buyers status when you get married? I own an appartment and my partner and I are looking to buy a house. At the same time we are also looking at getting married. My Partner has never bought anywhere so is still seen as a first time buyer, will this status be lost if we get married? Is it lost even if the house is purchased only in my partners name?

thanks
 
This is a very frequently asked question. Your partner is a first time buyer - that will not change on marriage.

If you buy a house together, then first time buyer relief is not available to either of you.

If s/he buys in her/his sole name, then the relief is available. However, it may be that the borrowings to support the mortgage to buy the house you actually want to buy together will need to have you both involved and again relief is lost. Also, a lot of lenders will insist that a "family home" ( i.e. where a married couple reside) should be in joint names. This is to avoid a situation where , in the event of financial difficulties, both parties are on title and can be joined in proceedings.

Revenue deal with ftb relief on their website.

mf
 
It will not be lost because of getting married but if two people buy a house together they will be liable for stamp duty unless both are first time buyers.
 
Curious81 said:
It will not be lost because of getting married but if two people buy a house together they will be liable for stamp duty unless both are first time buyers.
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Curious81 thats not exactly true only if you buy second hand house you are liable for stamp duty if its a newly built house and one is first time buyer and one is not you dont have to pay stamp duty if its your resisding property. been in this situation with a new house b/f not first time buyer i am and we didnt pay stamp duty.
 
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