Buying a property in England .. Am I a first time buyer?

Discussion in 'Legal' started by Darren McNiven, Mar 5, 2018.

  1. Darren McNiven

    Darren McNiven UKBF Newcomer Free Member

    7 0
    Hello, I have searched the internet to try and find the answer to this and can't seem to find a direct answer.

    We used to own a home in Scotland that had sold and completed. We are currently renting a property in London, where we work. We are looking at buying a property in London, that is currently £275,000. To a first time buyer there would be £0 due in Stamp Duty. To someone not a first time buyer it is around £3,500. We own no property in England or Scotland.

    I know Scotland & England have separate laws when it comes to property so please don't think I am asking a ridiculous question.

    "...The dictionary definition of a first-time buyer is 'a person buying a house or flat who has not previously owned a home and therefore has no property to sell'.

    In other words anyone getting a mortgage who isn’t a homemover, homeowner, buy-to-let investor or simply remortgaging is classed as a first-time buyer...."

    We have been renting in England for 1 year.
    Posted: Mar 5, 2018 By: Darren McNiven Member since: Jan 21, 2018