Mortgage Interest Relief - Owner 10 years ago

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cemel69

Registered User
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Hi

I hope somebody can give me advice. My husband and I are looking to buy our first home together in the next few months.

However, my husband was joint owner with an ex girlfriend of a house over 10 years ago. When they separated she paid him a nominal sum.

As it was so long ago does this mean that he is still not eligible for first time buyer mortgage interest relief.

Does this also mean that I am not eligible for first time buyer interest relief even though I have never had any involvement with any property.

Any advice would be great.
 
You'll still get seven years of FTB rate TRS. Your husband has already used up his seven years from the previous property so he'll just get the normal rate.

Note that you won't qualify for FTB status for Stamp Duty purposes,.
 
plant43 said:
You'll still get seven years of FTB rate TRS. Your husband has already used up his seven years from the previous property so he'll just get the normal rate.

Note that you won't qualify for FTB status for Stamp Duty purposes,.
Click to expand...

The husband may not have used his full seven years - it depends for how long he was a co-owner of the other property. Breaks in ownership are not counted towards the seven year limit.
 
Found out that he only had his name on the property for about 12months.
Would he still be entitled to 6yrs interest relief as a first time buyer?
 
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