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1 first timer, 3rd timer / first time buyer exemption ireland

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  • 29-05-2020 6:09pm
    #1
    Fiona
    Registered Users Posts: 2,356 ✭✭✭


    Hi all bit of background first

    Partner is 39 never bought a house before and has 3 dependents who live with their mother. He is currently living with me in my 1 bed apt.
    He is due to be divorced quite shortly.

    I bought my first apt years ago, met my husband & moved in with him, sold my apt and bought another apt as an investment (we were living with each other at the time not married though)

    Marriage broke down and I moved out of his (our) marital home into my own investment property. We divorced last year and denounced our rights to each others property and pensions.

    Would myself and my partner qualify for a first time buyer exemption? He has a good salary €60k but the 3 dependents would probably impact on his borrowing potential?

    I have no dependents, ok salary €42k but I have current property to use for rental income if we go on joint mortgage. Oh and we have zero savings yet ha!

    Any thoughts or advice?


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    #2
    DubCount
    Registered Users Posts: 1,089 ✭✭✭DubCount


    Never any harm in asking, but I think if one party is not a FTB, the application will not be treated as a first time buyer for lending rules.


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    #3
    cython
    Registered Users Posts: 4,767 ✭✭✭cython


    Both applicants in a joint application must be first time buyers to qualify, so while he would be eligible in his own name, your being present on the application will mean it's ineligible.


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    #4
    Wesser
    Registered Users Posts: 1,813 ✭✭✭Wesser


    No......


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    #5
    un5byh7sqpd2x0
    Closed Accounts Posts: 1,862 ✭✭✭un5byh7sqpd2x0


    Aside from you’re not FTBs, there’s no such thing as a first time buyer exemption. The only difference is that FTBs are allowed to use the Help To Buy scheme on new builds, in effect 5% deposit, and a 10% deposit instead of 20% elsewhere.


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    #6
    Fiona
    Registered Users Posts: 2,356 ✭✭✭Fiona


    Maxton Deafening Motorist wrote: »
    Aside from you’re not FTBs, there’s no such thing as a first time buyer exemption. The only difference is that FTBs are allowed to use the Help To Buy scheme on new builds, in effect 5% deposit, and a 10% deposit instead of 20% elsewhere.

    I thought there was some exemptions for people who are divorced but from the limited info I found online about it I think it's to help people who have had to sign over a marital home so yes probably wont apply in my case.

    Himself shall have to go it alone so!


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