Hi guys,
Here's our situation ...
We have a house for 6 years which has been our PPR up until 1st Sept and we are now renting out ... There is 100k left on mortgage which we have been claiming TRS on ...
We are building a new house and have been approved for 300k with new lender ... We are about to draw down first stage payment ...
Do we cancel TRS on first house and claim a new one on new build as it will be our PPR by next FEB ?
How would TRS be worked out on stage payments i.e. will the bank make the adjustments up until the full 300k is drawn down ?
Cant find any details on websites for the above ...
Thanks in advance,
Here's our situation ...
We have a house for 6 years which has been our PPR up until 1st Sept and we are now renting out ... There is 100k left on mortgage which we have been claiming TRS on ...
We are building a new house and have been approved for 300k with new lender ... We are about to draw down first stage payment ...
Do we cancel TRS on first house and claim a new one on new build as it will be our PPR by next FEB ?
How would TRS be worked out on stage payments i.e. will the bank make the adjustments up until the full 300k is drawn down ?
Cant find any details on websites for the above ...
Thanks in advance,