Finance info please

Dee · February 27, 2006

My brother is buying a house but is not a first time buyer. So he's asked me to 'buy' the house i.e. in my name, but with his money in order to save ?15000 on the stamp tax.

So I've few questions:

1. If I 'buy' a house in Ireland will I still be recognised as a first time buyer in England (i presume i should)

2. I defaulted on credit card payments while i was student and the credit company got one of those debt collecting companies to reclaim the money, which I am now paying back, with only a few months to go before it clears. However, I suspect my name is schit with the credit rating people. Will this affect my ability to 'purchase' the house for my brother?

3. Am I liable for anything if I transfer the house deeds etc over to him as soon as the deal is done or is there a time period involved?

4. How can I improve my credit rating (in England - as i was refused a small loan a while ago - I'm about to register to vote, but what else improves the score, as I'd be looking for a mortgage in a couple of years)

cheers

Jonesy · February 27, 2006