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First time buyer or not?

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  • 01-01-2017 6:43pm
    #1
    phildenny
    Registered Users Posts: 75 ✭✭


    Hi all.
    Have a friend in a difficult marriage, stayed for the children but youngest will be finished college this year. She has always worked and has managed to save some money and is finally leaving. Her name was never on the family home as her husband inherited it and wouldnt put her name on it.
    I used to think that was a bad thing but she says now that she can buy her own house and be a first time buyer. Does anyone know if this is true. She's in a bit of a high now as she sees a way out but I'm concerned that she's under estimating the financial end of things.


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    #2
    uck51js9zml2yt
    Closed Accounts Posts: 18,268 ✭✭✭✭uck51js9zml2yt


    She never bought a house before. There is no issue.


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    #3
    myshirt
    Registered Users Posts: 5,245 ✭✭✭myshirt


    Paul Zealous Azalea wrote: »
    She never bought a house before. There is no issue.

    Not correct. That home is the marital home. She is a homeowner, whether her husband likes it or not.


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    #4
    .......
    Closed Accounts Posts: 9,057 ✭✭✭.......


    This post has been deleted.


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    #5
    Ayuntamiento
    Registered Users Posts: 346 ✭✭Ayuntamiento


    You're considered a FTB if you have never taken out a mortgage in your own name before. If that is the case for her, then she is a FTB.


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    #6
    cloloco
    Registered Users Posts: 70 ✭✭cloloco


    First time buyer: a person who has never before, either on his or her own or with others, purchased a house, a site to build a house, or an apartment, in Ireland or abroad.

    Based on this definition she would be considered a FTB as she has never 'purchased' a property.


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    #7
    76544567
    Registered Users Posts: 465 ✭✭76544567


    I don't believe she would qualify as a ftb, but she is entitled to a share of the marital home.
    Speak to a solicitor. Even if you think things can be settled amicably, they rarely are, and it's n o harm to know your full position, which a solicitor will explain to her.


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    #8
    riclad
    Registered Users Posts: 8,184 ✭✭✭riclad


    IF she goe,s for a divorce she will get a share ,being married to someone and having kids there ,means she is already a co owner of the house.
    Usually the house is sold ,and the money divided between the husband
    and wife .Or the husband moves out and she can agree to buy out his share .And is is entitled to child support if the husband earns more than
    her .And the husband is working.There s many cases where the couple
    agree on everything and going to court is just a formality .
    Tell her to go to FLAC free legal advice centre ,get free info ,advice.go to library get the book divorce in ireland , guidebook.
    Say the house is in a rural area , worth only 60k, it may not be worth selling the house , for obvious reasons .
    she is still a FTB ,she never bought a house.


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    #9
    Michael D Not Higgins
    Registered Users Posts: 7,223 ✭✭✭Michael D Not Higgins


    The Central Bank rules' definition of a first time buyer relates to having a mortgage. Without having had a mortgage before, your friend is still a first time buyer.

    It may be a question for a solicitor whether they are entitled to an interest in the former marital home.


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    #10
    myshirt
    Registered Users Posts: 5,245 ✭✭✭myshirt


    Michael D Not Higgins wrote: »
    The Central Bank rules' definition of a first time buyer relates to having a mortgage. Without having had a mortgage before, your friend is still a first time buyer.

    It may be a question for a solicitor whether they are entitled to an interest in the former marital home.

    <mod snip > She is liable for the mortgage. She is married. She is not a first time buyer.


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    #11
    listermint
    Registered Users Posts: 33,972 ✭✭✭✭listermint


    myshirt wrote: »
    <mod snip> She is liable for the mortgage. She is married. She is not a first time buyer.

    tbf, you have not managed to cite any evidence of this though....


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    #12
    HeidiHeidi
    Registered Users Posts: 29,362 ✭✭✭✭HeidiHeidi


    myshirt wrote: »
    <mod snip> She is liable for the mortgage. She is married. She is not a first time buyer.
    <mod snip> , did you even read the OP?

    (they didn't buy the house, the husband inherited it)


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    #13
    [Deleted User]
    Posts: 17,728 ✭✭✭✭ [Deleted User]


    myshirt wrote: »
    <mod snip> She is liable for the mortgage. She is married. She is not a first time buyer.

    what mortgage?
    phildenny wrote: »
    ............. Her name was never on the family home as her husband inherited it and wouldnt put her name on it. ...................


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    #14
    myshirt
    Registered Users Posts: 5,245 ✭✭✭myshirt


    My bad, totally misread it. Apologies.

    #runningoffwithtailbetweenlegs


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    #15
    phildenny
    Registered Users Posts: 75 ✭✭phildenny


    Hi All
    OP here. Thanks for all advice. Just to clarify there was never a mortgage. She did put a lot of money into the house over the years modernising it etc. that's another story, the seperation won't be nice.
    In the meantime her plan is to buy a little house, she doesn't want to stay in martial home as there's brothers of his living on both sides. The first time buyer question is that she'll need less deposit when buying. I will try to get her to see a solicitor and maybe the bank?


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    #16
    Talitha
    Registered Users Posts: 4 ✭Talitha


    Your friend is a FTB. However she also owns 50% of her family home and she would be made to consider walking away from that without her share. She needs to get legal advice.


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    #17
    phildenny
    Registered Users Posts: 75 ✭✭phildenny


    Talitha wrote: »
    Your friend is a FTB. However she also owns 50% of her family home and she would be made to consider walking away from that without her share. She needs to get legal advice.

    Yes she's going to do all that but it will take time and she doesn't want to physically stay in the house. Thanks.


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    #18
    you2008
    Registered Users Posts: 709 ✭✭✭you2008


    Michael D Not Higgins wrote: »
    The Central Bank rules' definition of a first time buyer relates to having a mortgage. Without having had a mortgage before, your friend is still a first time buyer.

    It may be a question for a solicitor whether they are entitled to an interest in the former marital home.

    Michael D Not Higgin is 100% right - > she is a FTB

    What is the definition of a first-time buyer (FTB)?
    A first time buyer is defined as a borrower to whom no housing loan has ever before been advanced.
    Where the borrower under a housing loan is more than one person and one or more of those
    persons has previously been advanced a housing loan, none of those persons is a first-time buyer.
    This definition of FTB is aligned to the Revenue definition. The flexibility given by the proportionate
    limits is in place to allow lenders to make decisions based on an individual borrower’s circumstances
    up to a specific limit.


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