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Am I a First Time Buyer or Not??


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Hi there,

 

I'm looking to purchase a property with a buy to let mortgage and need to know if I'm a first time buyer or not. 

 

Seems like a simple answer would be obvious; but I have two brokers telling me different.

 

To summarize, my husband purchased our home last year with a 'Help To Buy' mortgage through the government's scheme. I have absolutely nothing to do with this property aside from living in it.

 

I've always thought that meant that I would still classify as a first time buyer, however a broker has recently informed me that due to new legislation I am NO LONGER a 'First Time Buyer' as I have a spouse who owns a property.

 

Having found a great B2L deal, I've consulted another broker who is insisting that I AM going to be classified as a 'First Time Buyer'. They claim to have got this information from 'Target'.

 

Of course whether I am or not is going to determine the type of B2L mortgage I am able to attain. 

 

I appreciate any help on this matter. 

 

Thanks in Advance. 

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I found this article from the Daily Mail explained it quite well, reinforcing Richard's point above (even if it is the DM)...

 

http://www.dailymail.co.uk/property/article-4588916/Can-avoid-buy-let-stamp-duty-wife-buys.html

 

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