Ralphlauren:


This is not allowed. It is mortgage fraud and you can very easily be found out. 100%

I'm not going to share how very easily either the broker or solicitor or both can find out.

Once either party buys a home, the other party does not qualify as a "first time buyer"

A married couple where the MRS was still using her maiden name on all official documentation was found out. Doing a simple name search on land registry is easy peasy.

This is simply not true. As long as the property deed is not in both their names and the mortgage was taken individually, couples can individually be first-time buyers at different points. And no, it is not mortgage fraud.

I no get strength to argue sha. So if you disagree, no wahala.

SamReinvented:


This is simply not true. As long as the property deed is not in both their names and the mortgage was taken individually, couples can individually be first-time buyers at different points. And no, it is not mortgage fraud.

I no get strength to argue sha. So if you disagree, no wahala.

I don't have the strength either to argue with facts. Google is your friend.


https://www.theguardian.com/money/2020/feb/24/does-being-married-stop-me-from-being-a-first-time-buyer

https://www.nutsaboutmoney.com/mortgages/my-partner-is-a-first-time-buyer-but-im-not

https://mdjmortgages.com/can-couples-retain-first-time-buyer-status-if-one-partner-has-previously-bought-a-home/

Go and check your facts right. It is mortgage fraud!!

SamReinvented:


This is simply not true. As long as the property deed is not in both their names and the mortgage was taken individually, couples can individually be first-time buyers at different points. And no, it is not mortgage fraud.

I no get strength to argue sha. So if you disagree, no wahala.

SamReinvented:


This is simply not true. As long as the property deed is not in both their names and the mortgage was taken individually, couples can individually be first-time buyers at different points. And no, it is not mortgage fraud.

I no get strength to argue sha. So if you disagree, no wahala.

To prove this concept, can you please come back and report on how this works out for you (or people you know who have gone down this route) in like 3 years? HMRC routinely carries out compliance checks on SDLT returns post completion, and has about 2/3 years I think after the house purchase to open up an investigation, so would be interesting to hear what happens

Zahra29:


To prove this concept, can you please come back and report on how this works out for you (or people you know who have gone down this route) in like 3 years? HMRC routinely carries out compliance checks on SDLT returns post completion, and has about 2/3 years I think after the house purchase to open up an investigation, so would be interesting to hear what happens

I always like your questions and insights...

Hopefully SamReinvented will come back and help us answer the questions...

dupyshoo:
Go and check your facts right. It is mortgage fraud!!

100%

Wow. Newbie here and learning a lot
A little big disappointment though because I’m a new entry jjc who just got in on a care visa. In naija I flipped houses and I thought I could continue here. I’m just realizing I have to wait a whole 2 years

Good morning.
What a graduate how doesn't have up to 3Million or more for embassy request.
What can he do.
To pass the Embassy.

Mofolam:
Wow. Newbie here and learning a lot
A little big disappointment though because I’m a new entry jjc who just got in on a care visa. In naija I flipped houses and I thought I could continue here. I’m just realizing I have to wait a whole 2 years

You do not need to wait 2 years if you are a cash buyer or have a 75% LTV or lower, and can prove your identity and source of funds.

Zahra29:


To prove this concept, can you please come back and report on how this works out for you (or people you know who have gone down this route) in like 3 years? HMRC routinely carries out compliance checks on SDLT returns post completion, and has about 2/3 years I think after the house purchase to open up an investigation, so would be interesting to hear what happens

Government’s own website on LISA clearly says that you can use your own bonus towards a home even if your spouse already owns a home:

https://lifetimeisa.campaign.gov.uk/

So again, what Solumtoya is trying to do is not mortgage fraud. It is perfectly allowed. The proof that you need is on government’s own website.

^^^ on the above, I just read Solumtoya’s post again and realise he was talking about using the SDLT twice. For some reason, I thought he was talking about LISA first time buyer bonus.

The laws on SDLT is a bit more nuanced, so I’m pulling my original stance. Make una no vex

Zahra29:


You do not need to wait 2 years if you are a cash buyer or have a 75% LTV or lower, and can prove your identity and source of funds.

Thanks a lot. I really appreciate the Very helpful brief. I’m still reading through the thread trying to bask in so much info at the same time. Honestly, It’s kind of overwhelming but you have simplified it for me.

SamReinvented:
^^^ on the above, I just read Solumtoya’s post again and realise he was talking about using the SDLT twice. For some reason, I thought he was talking about LISA first time buyer bonus.

The laws on SDLT is a bit more nuanced, so I’m pulling my original stance. Make una no vex

Nice copout 😂, we had already marked you down as Case Study-001

Yes the definitions of first time buyer can vary. For example you can be a first time buyer to the lender or for LISA, but not for SDLT purposes.

SamReinvented:
^^^ on the above, I just read Solumtoya’s post again and realise he was talking about using the SDLT twice. For some reason, I thought he was talking about LISA first time buyer bonus.

The laws on SDLT is a bit more nuanced, so I’m pulling my original stance. Make una no vex

Best you modify your initial post....

SamReinvented:
^^^ on the above, I just read Solumtoya’s post again and realise he was talking about using the SDLT twice. For some reason, I thought he was talking about LISA first time buyer bonus.

The laws on SDLT is a bit more nuanced, so I’m pulling my original stance. Make una no vex

To be fair, in the process, you pointed out something important. One spouse could continue saving with LISA and be getting the bonuses for the couple's second home while the other spouse buys the first home alone. I wonder if this would work?

I want to get people’s view on estate management fees paid in most of these new build freehold estates? It’s usually for maintenance of roads, green areas etc.

I am buying a freehold property built four years ago in an estate.

I am seeing bad reviews around how those fees go up without basis and how the service provided in the estate might also be bad.

I think it’s a thing for most new build estates.

tshoboy:
I want to get people’s view on estate management fees paid in most of these new build freehold estates? It’s usually for maintenance of roads, green areas etc.

I am buying a freehold property built four years ago in an estate.

I am seeing bad reviews around how those fees go up without basis and how the service provided in the estate might also be bad.

I think it’s a thing for most new build estates.

Mine is a 6 years old built house, freehold. The estate management fee is about £210 per annum. I think it's good to pay it as they provide those services to keep your estate amenities in good shapes.

Mofolam:


Thanks a lot. I really appreciate the Very helpful brief. I’m still reading through the thread trying to bask in so much info at the same time. Honestly, It’s kind of overwhelming but you have simplified it for me.

UK mortgage application process is a big 'school' on it's own if you're new to it. I have been learning as l proceed in the journey

Lenders mortgage rates coming down.....

Halifax cutting down 5years to 0.7%

ukay2:
Lenders mortgage rates coming down.....

Halifax cutting down 5years to 0.7%

Lol preposition is key here....do you mean "by"? (Imagine the stampede if only it was "to" 😂)

ukay2:
Lenders mortgage rates coming down.....

Halifax cutting down 5years to 0.7%

No way. You probably me "by 0.7%"

Solumtoya:


To be fair, in the process, you pointed out something important. One spouse could continue saving with LISA and be getting the bonuses for the couple's second home while the other spouse buys the first home alone. I wonder if this would work?

Yep, that’s why I left the shalaye there, as it’s a helpful info regardless.

And yes to your point, I initially thought you wanted to use your madam’s LISA to get a first house in her name, and then buy a second home in your own name using your own LISA. So claiming LISA first time buyer twice.

That would work and it’s in-fact what I’ll do as well (the other way round). But I no get wife yet

dustydee:


No way. You probably me "by 0.7%"

Yes...thank you

ukay2:


Mine is a 6 years old built house, freehold. The estate management fee is about £210 per annum. I think it's good to pay it as they provide those services to keep your estate amenities in good shapes.

Not paying isn’t an option because the management company would have a charge on the property’s title (I don’t know if yours also had a charge on your property).
I just wanted to get views of how often those fees have increased, if one can ask for it to be capped etc.
The management company is RMG.

SamReinvented:

Yep, that’s why I left the shalaye there, as it’s a helpful info regardless.

And yes to your point, I initially thought you wanted to use your madam’s LISA to get a first house in her name, and then buy a second home in your own name using your own LISA. So claiming LISA first time buyer twice.

That would work and it’s in-fact what I’ll do as well (the other way round). But I no get wife yet

Makes sense. I might do this. Just keep saving in madam's LISA for our second home and be packing the Annual £1,000 bonus.

We weren't considering buying together so never eben checked her credit score till recently. It's a low FAIR. I wonder how this would affect our application if we apply together. I'm on a GOOD score with over 70% of the household income.

very interesting story to watch


https://www.youtube.com/watch?v=T7RevkoUiMo

Solumtoya:


Makes sense. I might do this. Just keep saving in madam's LISA for our second home and be packing the Annual £1,000 bonus.

We weren't considering buying together so never eben checked her credit score till recently. It's a low FAIR. I wonder how this would affect our application if we apply together. I'm on a GOOD score with over 70% of the household income.

Most high street lenders will not approve an individual application from a married person. You'll very possibly (likely?) end up with a specialist lender that will hVe higher rates which may end up canceling out the 1k per year bonus.

Even those specialist lenders will want to be sure that your spouse didn't contribute to the deposit or alternatively they can execute a deed of trust to that effect. Either way, it's something you'd best seek advice on very early on before the actual application time because it might impact how you structure the deposit paper trail, as one example.

ukay2:
very interesting story to watch


https://www.youtube.com/watch?v=T7RevkoUiMo

He's quite the predator. You should do some reading on his practices in the property education (not properties itself) industry. Whilst at it, check him out on companies house.

koonbey:


Most high street lenders will not approve an individual application from a married person. You'll very possibly (likely?) end up with a specialist lender that will hVe higher rates which may end up canceling out the 1k per year bonus.

Even those specialist lenders will want to be sure that your spouse didn't contribute to the deposit or alternatively they can execute a deed of trust to that effect. Either way, it's something you'd best seek advice on very early on before the actual application time because it might impact how you structure the deposit paper trail, as one example.

Yup, I noticed that too. Of course, Licensed Mortgage Advisers would give their professional opinions which I would eventually go by. If it's cheaper to go together, then that's fine; it's all about saving cost long term.

ukay2:
very interesting story to watch


https://www.youtube.com/watch?v=T7RevkoUiMo

Lool, Samuel and Amanda Leeds

Ticha:


He's quite the predator. You should do some reading on his practices in the property education (not properties itself) industry. Whilst at it, check him out on companies house.

Don't know him....just impressed how he met christ, married his wife and passion for charity. Not interested in anything else.