The FTB status for TRS lasts for 7 years from the date of the first purchase. According to previous posts it may be transferred to any property where a mortgage is being paid and is a PPR.However you may still qualify for FTB rates of mortgage interest relief on another PPR - I'm not sure.
No - how do you reckon that? you would be liable for 4% or €9,680 assuming that you paid no SD on the original purchase.I paid 242k for the house, so am I right in thinking that if I do rent the house, I won't have to pay the stamp duty on it
Not on the original property because you would no longer be an owner occupier. You could offset interest on any loan(s) used to purchase the property against rental income though. You can claim FTB mortgage interest relief against any mortgage that you are named on for another PPR though as far as I know.and I can still claim the FTB Mort Int Rel ?
You will pay the stamp duty on it, you'll be paying as an investor not as a FTB so SD is due (as detailed by CM above).I paid 242k for the house, so am I right in thinking that if I do rent the house, I won't have to pay the stamp duty on it, and I can still claim the FTB Mort Int Rel ?
Good point, to be honest, you need to register with the PRTB full stop!!!Also, you'll need to register with the PRTB in order to be able to offset your rental income against mortgage interest.
Apologies, *pats CM on the head*, that was hours ago and the 'aul memory just ain't what it used to be, Fridays always seem to have that effect. Do take heed of the advice given by CM and Howitzer, non registration will leed to serious problems if identified down the line.Well I did mention the PRTB issue earlier!
I fully agree this is an excellent idea.Think I need to talk to a tax advisor !
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