Cowen's Budget - Interest Relief for FTB

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kerbs

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Hi - Potentially a stupid question here but how is it determined whether you will get the increase in interest relief as a first time buyer.
For example- My sister recently nearly killed herself to buy a house less then 6 months ago- will she get the increase in interest relief? Or will it only be those who buy in the new year?
Also I bought my house 5 years ago as an FTB- will I get the increase?
 
kerbs said:
Hi - Potentially a stupid question here but how is it determined whether you will get the increase in interest relief as a first time buyer.
For example- My sister recently nearly killed herself to buy a house less then 6 months ago- will she get the increase in interest relief? Or will it only be those who buy in the new year?
Also I bought my house 5 years ago as an FTB- will I get the increase?
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The FTB status of TRS lasts for 7 years from the initial purchase. All mortgages on properties where it is within the 7 year term from the first purchase of a property will be allowable for the new rates (e.g. both you and your sister will recieve the benefits).

Covered lots in other threads on AAM.
 
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