Like some other tax credits (e.g. SSIA topup, private health insurance premiums tax relief, SSIA to pension Penstion Incentive Tax Credit etc.) mortgage interest tax relief is granted at source and so benefits even those who don't otherwise pay tax.
If you previously owned a house and move to a 2nd property. Rent the existing one out. Are you still entitled to the 1st time buyers relief on your principle residence for up to 7 years?
I have had a sole mortgage for 4 years and am now trading up with my partner, the new mortgage will be in both names. How does that work in terms of the TRS? I have 3 years left but she should be due 7 years relief, does the joint mortgage get 3 or 7 years relief? or are we looked at as individuals where I get the 3 and she gets the 7?