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Unsure if first time buyer

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  • 18-12-2018 4:29pm
    #1
    bren55_1
    Registered Users Posts: 4 ✭


    Hi folks,

    Myself and my partner are starting to save for a house in January but we are unsure if we are classed as first time buyers or not.

    My partner previously bought a house with her ex which was sold when they split. I have never owed a home.

    If we apply for a joint mortgage are we considered first time buyers or will banks see that my partner already owned a house and therefore we are not classed as first time borrowers?

    Thanks in advance


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    #2
    nim1bdeh38l2cw
    Closed Accounts Posts: 689 ✭✭✭nim1bdeh38l2cw


    If she previously had a mortgage, you're not FTBs


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    #3
    Creamy Goodness
    Registered Users Posts: 26,578 ✭✭✭✭Creamy Goodness


    Joint: No FTB
    Solo (your name): FTB
    Solo (partner's name): No FTB.


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    #4
    bren55_1
    Registered Users Posts: 4 ✭bren55_1


    Thats what I thought. I was looking at AIBs mortgage calculator and entered in both our details and it seemed to say that the deposit we needed was only 10% which left me a little confused


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    #5
    Creamy Goodness
    Registered Users Posts: 26,578 ✭✭✭✭Creamy Goodness


    you must have selected "yes" for the FTB buyer question then. It explicitly states when you hover over the FTB question:
    Select "Yes" if you never borrowed money before that was secured on residential property or land (where you had an intention to build a dwelling) in or outside the State. Otherwise select "No".

    These calculators are little more than a "you've told us you have money, but come in for a chat and we'll be the judge of that"


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    #6
    bren55_1
    Registered Users Posts: 4 ✭bren55_1


    Creamy Goodness wrote: »
    you must have selected "yes" for the FTB buyer question then. It explicitly states when you hover over the FTB question:



    These calculators are little more than a "you've told us you have money, but come in for a chat and we'll be the judge of that"

    I selected yes for applicant 1 and no for applicant 2. I confirmed with the bank themselves anyways and it is as you all say.

    Thanks for the info folks


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    #7
    Victor
    Registered Users Posts: 78,404 ✭✭✭✭Victor


    bren55_1 wrote: »
    My partner previously bought a house with her ex
    I understand there may be special consideration given to separated / divorced couples, if this applies.


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    #8
    meijin
    Registered Users Posts: 1,266 ✭✭✭meijin


    from https://www.mortgages.ie/go/customers/mortgage_information/stamp-duty-in-ireland
    A divorced or separated person is considered a first-time buyer in the following circumstances:
    • If they have left their former marital home and,
    • Do not retain any interest in the martial home and,
    • If immediately prior to the date of the judicial separation, deed of separation, decree of divorce or decree of nullity he/she is not entitled to an interest in a house other than the marital home
    • At the date of the judicial separation, deed of separation, decree of divorce or decree of nullity, your separated or former spouse must be living in the house which was occupied by you both before your separation or divorce.


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