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First time buyers

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  • 18-09-2013 5:09pm
    #1
    Pistolpete1
    Registered Users Posts: 53 ✭✭


    Hi

    Quick question as i dont know where to find the answer and maybe someone here will know.

    My wife to be has her own house and is currently paying off her mortgage.
    House is in neg equity. We dont mind as we dont want to sell.

    I have never owned a house and my question is, will i be classed as a first time buyer if we got married? or as a married couple and she has already bought a house, is it it lost?

    Regards

    Pistol


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    #2
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    Pistolpete1 wrote: »
    Hi

    Quick question as i dont know where to find the answer and maybe someone here will know.

    My wife to be has her own house and is currently paying off her mortgage.
    House is in neg equity. We dont mind as we dont want to sell.

    I have never owned a house and my question is, will i be classed as a first time buyer if we got married? or as a married couple and she has already bought a house, is it it lost?

    Regards

    Pistol


    You don't automatically lose your FTB status. However if you buy a house together then its not classified as an FTB purchase and you will lose your status then. So you would need to buy something on your own.

    Theres feck all benefit to being an FTB anymore anyway so it really doesn't matter. Only thing an FTB gets now is LPT exemption until 2016


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    #3
    Trish56
    Registered Users Posts: 1,256 ✭✭✭Trish56


    OP once you are married and your wife already has a house and a mortgage and you wish to purchase a new property you will not be treated as a first time buyer. Also you may run into problems in getting a mortgage due to lender stress testing existing repayments at Investment rates and some lenders will not take in rent received if in negative equity.

    You should consider buying before you get married or perhaps check how much you would qualify for if applying in joint names.


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    #4
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    Trish56 wrote: »
    OP once you are married and your wife already has a house and a mortgage and you wish to purchase a new property you will not be treated as a first time buyer. .

    That's actually a common misconception.

    You remain a FTB however very few people who are married would buy a property on their own and therefore assume you lose the status as any purchase as husband and wife would not be seen as an FTB purchase and with that joint purchase the OP's FTB status would also go.


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    #5
    Trish56
    Registered Users Posts: 1,256 ✭✭✭Trish56


    Once married you cannot get a mortgage for a private dwelling house in your own name only. If applying for a mortgage in joint names once your partner/spouse has a mortgage you will not be offered products/interest rates/term that apply to first time buyers.


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    #6
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    Trish56 wrote: »
    Once married you cannot get a mortgage for a private dwelling house in your own name only. If applying for a mortgage in joint names once your partner/spouse has a mortgage you will not be offered products/interest rates/term that apply to first time buyers.


    Believe it or not house purchases happen in cash aswell .....

    The factual answer is no you do not lose your FTB status automatically.


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    #7
    Trish56
    Registered Users Posts: 1,256 ✭✭✭Trish56


    D3PO wrote: »
    Believe it or not house purchases happen in cash aswell .....

    The factual answer is no you do not lose your FTB status automatically.

    My response was regarding getting a mortgage not purchasing a property with cash which is not relevant to the OP's question. If the OP applies for a mortgage with his partner/spouse who already owns a house he cannot select first time buyer on the Home Loan application and that is a fact. If he applies in his own name only as a single person yes he is a First time buyer.


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    #8
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    Trish56 wrote: »
    My response was regarding getting a mortgage not purchasing a property with cash which is not relevant to the OP's question. If the OP applies for a mortgage with his partner/spouse who already owns a house he cannot select first time buyer on the Home Loan application and that is a fact. If he applies in his own name only as a single person yes he is a First time buyer.


    what are you talking about ??? NOWHERE has the OP mentioned applying for a mortgage.

    just to refresh your memory this is the question asked

    I have never owned a house and my question is, will i be classed as a first time buyer if we got married? or as a married couple and she has already bought a house, is it it lost?


    How about you answer the question asked and stop backtracking to try and save face. Your answer was wrong now instead of trying to justify what you said just put your hand up and admit it.


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    #9
    Timd37
    Registered Users Posts: 4 ✭Timd37


    For LPT purposes you are treated as a first time buyer even when married and your wife has previously purchased a house.


  • Options
    #10
    Trish56
    Registered Users Posts: 1,256 ✭✭✭Trish56


    D3PO wrote: »
    what are you talking about ??? NOWHERE has the OP mentioned applying for a mortgage.

    just to refresh your memory this is the question asked

    I have never owned a house and my question is, will i be classed as a first time buyer if we got married? or as a married couple and she has already bought a house, is it it lost?


    How about you answer the question asked and stop backtracking to try and save face. Your answer was wrong now instead of trying to justify what you said just put your hand up and admit it.

    Hopefully the OP's question has been answered satisfactorily... I don't see where he mentioned that he was buying a house for cash.... my comments relate only if the OP is applying for a mortgage and perhaps he might clarify. Also you advised he would lose his FTB status... However if you buy a house together then its not classified as an FTB purchase and you will lose your status then

    D3PO.. We will leave the last word to you as always....as I won't be responding to any more of your contradictions and silly arguments.


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    #11
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    Trish56 wrote: »
    Hopefully the OP's question has been answered satisfactorily... I don't see where he mentioned that he was buying a house for cash.... my comments relate only if the OP is applying for a mortgage and perhaps he might clarify. Also you advised he would lose his FTB status... However if you buy a house together then its not classified as an FTB purchase and you will lose your status then

    D3PO.. We will leave the last word to you as always....as I won't be responding to any more of your contradictions and silly arguments.


    He didn't mention buying in cash or a mortgage. So therefore the answer is you do not automatically lose your FTB status when you get married to somebody who owns a property already.

    They are the facts. You answered incorrectly based on a common misconception and rather than accepting your answer was misleading you tried to spin it that you knew what you were talking about and your answer was correct.

    It wasn't.

    as for me advising he would lose his status if they purchased together that is correct. Its called adding context to my answer fleshing it out rather than using a yes or no answer.

    If you were aware of the correct answer you could have added to mine by advising that if he were to look at purchasing a property with a mortgage he could not apply as an FTB if you genuinely had the knowledge about the original question. But as you thought it was a blanket answer you didn't say that, you only looped back to that to save face when you realized your answer was wrong.

    In summary for the OP

    You don't lose your FTB status automatically.

    If you were to purchase a house with your new wife you would not be classified as an FTB and would lose that status for any future purchase after that event.

    If you purchased a house in cash in your own name after marriage then yes you would be classified as an FTB.


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