TRS and landlord for first time

[marbar]

i have read through a few different threads and i understand that, when i let my property, i will lose my TRS. just a few quick questions on this:

1. will this happen automatically when i register as a landlord?
2. if not, is there somethign additional i need to do?
3. if this is removed, does my mortgage provider know that the property is no longer my main residence and that i'm renting?

thanks for your help

 

[jaykayphd]

i have read through a few different threads and i understand that, when i let my property, i will lose my TRS. just a few quick questions on this:

1. will this happen automatically when i register as a landlord? No
2. if not, is there somethign additional i need to do? You must inform Revenue that you wish to have your TRS stopped, they will inform the bank
3. if this is removed, does my mortgage provider know that the property is no longer my main residence and that i'm renting? They may or may not notice, but I assume yes

thanks for your help

See above in red

 

[marbar]

thanks Jay.

 

[landlord]

TRS finishes after seven years for everyone I believe. If you are lucky revenue may not inform the bank why the TRS has ceased.