Inherited property but a first time buyer?

[JoWatson333]

So my partner and I have been together for 10 years and are saving for our first home, separately in Moneybox (lifetime isa). We were planning on getting married summer 2026 and buying in 2027 (nothings been booked). My mum died and now I’ve inherited a property but my mums boyfriend has lifetime tenancy and can remain there. Please can I get some advise on these questions:

• Am I know longer classed as a first time buyer? And will I now not be able to use my Moneybox money?
• If I tried to buy a house with my partner , would it be classed as my second house and then double my stamp duty?
• If the answer to the questions above is yes, then should he buy on his own BEFORE we get married?
• If he does buy on his own before we get married, will it be a problem if I live there as well? Will the mortgage people have any issues with this set up?

thank you for any help!

https://smoothsale.co.uk/news/do-i-pay-stamp-duty-on-inherited-property/#first-time

It looks like you're no longer classed as a FTB, but won't have to pay additional stamp duty if you buy within 3 years.

You'd think that if you buy together he can still get the ftb benefits on his half of the property you buy, but apparently not.

If your partner buys before you marry, would he be able to afford as much? I would assume not as the mortgage would only be based on his salary? So any gains from his ftb status might not be worth it.

When "we" bought our current house it was in DH's name only as I hadn't sold my old house. The mortgage company made me sign something to say I had no rights/ interests in it. And then when that mortgage expired and we got a joint mortgage I was liable to pay stamp duty on my half of the house as I was seen to be buying that half from DH. Fortunately there was none to pay as my half was under the threshold, but I hadn't even realised I would be liable.

I'd recommend getting a mortgage advisor who should hopefully be able to go through it all with you.

thank you so much, really helpful!

He is the breadwinner by far (earns 65k and I earn 30k) plus he has maxed out his lifetime isa and I haven’t. He would definitely be able to buy on his own. Would the lender question why I won’t be on the mortgage ?

we are going to talk to a broker but can I be fully transparent or will they insist on doing things the more expensive way?

Your partner can buy a property on his own and lenders won’t have an issue with you not being on the mortgage or deeds: until you’re married, as far as the law is concerned, you are legally separate people and no different to any one person buying a property and having their friend or relative or a lodger live there with them to share the bills. As previous poster says, they’ll require you to sign a declaration that you have no interest in and agree to leave the property in the event of repossession etc. but can be open that you already own a property and your partner is buying this one for himself.

My son
” inherited my late parents house
exactly the same
my mum passed away my father had a lifetime interest in the property
However my son inherited the residue of the estate ( it’s how it’s worded in the will )

so he didn’t actually inherit the property
when my dad died I ( as the executor/ trustee) sold the house through the estate and my son got the cash

at not poky was my son ever on the deeds si he was classsx as a FTB

he bought last year and had no problems

Basically get a copy of the will
get a copy of the deeds And see if your on the deeds as the owner

I think because my son inherited the residual of the estate and the the house was eventually sold by the estate as such he was never seen as owning a property - at least that’s what the solicitors who dealt with both the sale of my parents house and the purchase of my sons new house

I was on the deeds but I was not the beneficial owner of the property only the legal owner by way of the trust ( if that makes sense )