Transfer TRS from Investment Property to new PPR

[rebelroy]

I recently bought my second property which is going to become my PPR. How do I transfer my TRS to the new property? Is it a matter of contacting the banks and informing them or is there more to it.

I would also like some advice on the stamp duty clawback on my first property. I orginally bought in 2004 and paid FTB 3.75% stamp duty. It now looks like I'm going to rent this first property out and need to invoke stamp duty clawback which by my reckoning will be 1.25% of original purchase price (5%-3.75%). Bear in mind these were the previous stamp duty bands in 2004.
Are my calculations correct?
What do I need from a solicitor to get this clawback paid and is the process relatively straightforward?
Can I expect a substantial bill from a solicitor to get this clawback paid?

Thanks in advance for any help/advice

 

[ClubMan]

I recently bought my second property which is going to become my PPR. How do I transfer my TRS to the new property? Is it a matter of contacting the banks and informing them or is there more to it.

Contact Revenue and your lender to let them know about the change in circumstances.

I would also like some advice on the stamp duty clawback on my first property. I orginally bought in 2004 and paid FTB 3.75% stamp duty. It now looks like I'm going to rent this first property out and need to invoke stamp duty clawback which by my reckoning will be 1.25% of original purchase price (5%-3.75%). Bear in mind these were the previous stamp duty bands in 2004.
Are my calculations correct?

Not sure if the specific rates were the ones that applied but the general calculations look OK.

What do I need from a solicitor to get this clawback paid and is the process relatively straightforward?

I'm not sure that you need anything from a solicitor - I think you can pay it directly to Revenue yourself.