FTB status on a new build

S

Salmon

Registered User
Messages
106
Hi all,

Just a quick question for all self builders and brokers! When does the 7 year 1st time buyers allowance kick in for new builds? Is it when the build is finished or during the course of construction?
Obviously it would be better to start claiming it when the house is built and the mortgage is at its greatest amount, im just building at the moment and am starting to repay the stage payments at the moment and would be interested to find out!!

cheers
 
I'm not sure of the technical answer to your question...but....

I have applied for our TRS on our mortgage from the first month we will make a payment (at the start of the build).
We'll get TRS from then, but if I waited and applied when the house was finished, I'm not sure if they would see the 'start' as when the first mortgage payment was made and go back to then....
 
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