Criteria for first Time home Buyer LoanCircumstances for the first time a home buyer loan
Even though the total value of the real estate under consideration is 350,000, it is important to bear in mind that the applicant must have the 5% down payment and be able to pay the mortgages. For more information, please visit the Local Authority Mortgages scheme factsheet[pdf]. It will run from 1 April 2013 to 31 March 2016 (or sooner if all the financing is used).
Buying help is available in England from home owners who are enrolled to provide the program. HomesHub is the Help to Buy agent for the Cheshire and Merseyside region and is part of the Plus Dane Group. For more information on this schema, see Help to Buy.
You' re a first-time buyer? Here are the main criteria for exempting you from stamp duty | Homeward legally
How do you know that you are qualified as a first-time buyer and can therefore profit from the stamp tax waiver? It has been defined by the Ministry of Finance, which collects the stamp duty on government behalf: An initial purchaser is someone who has never previously held a right of ownership or lease to an apartment and who buys his sole or principal place of abode.
You are not a first-time buyer if you have inherited a portion or an entire apartment in a will. When you own a home somewhere else in the worid, you are not a first time buyer. When you own a stationary trailer, you are not a first-time buyer. Unless you've never purchased before and are purchasing common name with another individual who's previously held a real estate object, you're not a first-time buyer in the Treasury's view.
You are not a first-time buyer if you have taken part in a co-ownership programme with a condominium company and are now making your own purchases. When you buy a real estate as a buy-to-let, even if it is the first time you have purchased it, you are not a first time buyer. For more information, please refer to our Stamp Duty and first-time buyer FAQ.