2nd Time Buyer classed as FTB

Had an interesting conversation with the Revenue (I think) who told me that a First Time Buyer is classed as such for 7 years, no matter how many houses they buy/sell in that time. Sounds odd to me. Can this be right?

This is not correct. Perhaps this person were talking specifically about [broken link removed] where first time buyers get preferential relief for seven years compared to non first time buyers? In general (e.g. when it comes to stamp duty etc.) it is not true to say that one's FTB status is retained for seven years even if houses are bought/sold during that period. This shows why it's a good reason to get a second opinion, and preferably an independent/professional one (not mine - I'm just an amateur punter), on issues such as this.

STB/FTB

yes, I should have been more explicit. This is regarding Tax Relief at Source on the mortgage. I didn't realise it only runs for 7 years. Does being a single parent increase your TRS? (the RevComms leaflet won't download)

Re: STB/FTB

I didn't realise it only runs for 7 years.

This is not correct either. It runs for the lifetime of any owner occupier mortgage. It's just that first time buyers get higher relief than non first time buyers for the first seven years of their initial mortgage. After that everybody gets the same relief.

When a person buys their first property then they get the FTB rate of relief. If they move to another house within seven years then they will no longer qualify for the FTB rate and will just get the normal rate as far as I know - my understanding contradicts what you were told according to your first post.

Does being a single parent increase your TRS?

No. Other than the preferential rates for FTBs in the first seven years each individual mortgage holder gets the same rate. Where there is more than one name on the mortgage (e.g. married or co-habiting couple, friends buying together etc.) each individual can claim full relief.

If you can't download the Revenue booklets then try some of for a summary of the rules.