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Tax Relief at source

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  • 04-06-2009 12:08am
    #1
    dcom
    Registered Users Posts: 79 ✭✭


    Hi,
    Not sure ifthis is the correct forum to post this question, mods feel free to move....

    We currently have a mortgage which we started in dec 2005, the revenue have sent us out a letter to clarify if we are still eligible for TRS (which I know we are because we are still living in the house and its under the 7yr threshold allowed).

    We are also building a new house which we hope to move into in the next month or two and we have a second mortgage for that, which we are drawing down in stage payments since june 2008.

    My question is this; is there any point in sending my details on my current mortgage to reactivate the TRS or should I just set up the new build mortgage as my principal residence from now and claim the TRS on it?

    Is ther any financial benefit to either way??


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