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Is there any way....

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  • 28-07-2017 2:09pm
    #1
    _DMac_
    Registered Users Posts: 379 ✭✭


    I could be considered a first time buyer? I bought a house on my own in 2006. Sold again less than a year later. Had intended moving down the country but 10 years later I am still living and working in Dublin but never bought another house and have been renting all along. I am now looking to buy with my wife who has never owned a house and is defo a first time buyer. Does my having owned a house previously now mean that if we buy together we can in no way apply for first time buyers?


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    #2
    impr0v
    Registered Users Posts: 2,647 ✭✭✭impr0v


    Answering your questions in turn: no; yes.


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    #3
    [Deleted User]
    Posts: 24,714 ✭ [Deleted User]


    Did you buy the house for cash or with a mortgage.

    If you bought for cash you will be considered a first time buyer as you have not had a mortgage if you had a mortgage you will not be considered a RTB even if your wife is.


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    #4
    Askthe EA
    Registered Users Posts: 724 ✭✭✭Askthe EA


    Angela Repulsive Perfumery wrote: »

    If you bought for cash you will be considered a first time buyer as you have not had a mortgage

    Really? Are you sure about that?


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    #5
    Michael D Not Higgins
    Registered Users Posts: 7,223 ✭✭✭Michael D Not Higgins


    Askthe EA wrote: »
    Really? Are you sure about that?

    He's correct for the purposes of the Central Bank rules on mortgages.

    http://www.irishstatutebook.ie/eli/2015/si/47/made/en/pdf

    “first-time buyer” means, subject to paragraph (2), a borrower to whom no
    housing loan has ever before been advanced;


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    #6
    beechwood55
    Registered Users Posts: 532 ✭✭✭beechwood55


    Angela Repulsive Perfumery wrote: »
    Did you buy the house for cash or with a mortgage.

    If you bought for cash you will be considered a first time buyer as you have not had a mortgage if you had a mortgage you will not be considered a RTB even if your wife is.

    The Revenue definition of a first time buyer is this :

    First Time Buyer – definition . Revenue say that…. “The first-time buyer must not have either individually or jointly with any other person (directly or indirectly), previously purchased, or built a property.”


    So the means of purchasing that first house back in 2006 is irrelevant. You are not a first time buyer.


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    #7
    .......
    Closed Accounts Posts: 9,057 ✭✭✭.......


    This post has been deleted.


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    #8
    Mickeroo
    Administrators, Computer Games Moderators, Sports Moderators Posts: 32,276 Admin ✭✭✭✭✭Mickeroo


    Can his wife just apply for the mortgage solo?


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


    This post has been deleted.


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    #10
    Paulw
    Registered Users Posts: 13,381 ✭✭✭✭Paulw


    Mickeroo wrote: »
    Can his wife just apply for the mortgage solo?

    No, because they are married.


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    #11
    [Deleted User]
    Posts: 24,714 ✭ [Deleted User]


    beechwood55 wrote: »
    The Revenue definition of a first time buyer is this :

    First Time Buyer – definition . Revenue say that…. “The first-time buyer must not have either individually or jointly with any other person (directly or indirectly), previously purchased, or built a property.”


    So the means of purchasing that first house back in 2006 is irrelevant. You are not a first time buyer.

    ....... wrote: »
    This post has been deleted.

    He won't be eligible for the FTB grant but should be eligible for the 10% deposit as one is governed by revenue and the other by the central bank who have different definitions of FTB.


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    #12
    .......
    Closed Accounts Posts: 9,057 ✭✭✭.......


    This post has been deleted.


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    #13
    [Deleted User]
    Posts: 24,714 ✭ [Deleted User]


    ....... wrote: »
    This post has been deleted.

    Its unlikely but no harm in giving the facts.


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    #14
    _DMac_
    Registered Users Posts: 379 ✭✭_DMac_


    Thanks for all the reply’s. This quote was what I was looking for but couldn’t find the definition of a first time buyer

    “First Time Buyer – definition . Revenue say that…. “The first-time buyer must not have either individually or jointly with any other person (directly or indirectly), previously purchased, or built a property.”


    Angela Repulsive Perfumery wrote: »
    He won't be eligible for the FTB grant but should be eligible for the 10% deposit as one is governed by revenue and the other by the central bank who have different definitions of FTB.

    Are you sure about 10% deposit as when I spoke with boi today they were fairly adamant about 20% deposit required.


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    #15
    .......
    Closed Accounts Posts: 9,057 ✭✭✭.......


    This post has been deleted.


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    #16
    _DMac_
    Registered Users Posts: 379 ✭✭_DMac_


    Angela Repulsive Perfumery wrote: »
    Did you buy the house for cash or with a mortgage.

    If you bought for cash you will be considered a first time buyer as you have not had a mortgage if you had a mortgage you will not be considered a RTB even if your wife is.

    Sorry for double post. When I bought it was with a mortgage so I guess that rules out buy with cash scenario


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    #17
    Wabbit Ears
    Registered Users Posts: 3,043 ✭✭✭Wabbit Ears


    Im curious then, if somene is gifted a house or apartment by a parent are they eligable for FTB at a later date?
    Same Q for an inherited property?


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    #18
    amtc
    Registered Users Posts: 2,490 ✭✭✭amtc


    I know a guy whose parents both died within weeks of each other, at a time when he had signed initial contracts on a house but it was still under construction. He was the sole beneficiary of his parents' wills but it was really complicated as had to have probate on both and this wasn't completed before drawing down mortgage. The bank could not figure out if he was a first time buyer or not. It ended up taking forever and as you can imagine in a distressing time. How it ended up was it all just became too much and he pulled out.


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