TRS after 7 years as FTB

[sandrat]

what happens after your 7 years as a FTB are up? Are you entitled to non FTB TRS (15%) or is that only if you buy a 2nd property?

 

[WaterSprite]

You're entitled to the non-FTB rate (15%) - on any property that is your PPR (i.e. current one or, if you sell this one, the next one)

Blurb from revenue here

"First time buyers relief ends after year 7. The relief for non-first time buyers will be reduced from 20% to 15%."

The term "First Time Buyer" is really quite misleading I reckon. If you buy a new PPR within e.g. 2 years of buying your first PPR, you are still an FTB (for the remaining 5 years). However, if you buy your first house and don't sell it, you stop being an FTB after year 7, even though you haven't bought another house. I know what they mean, just the term itself implies something about the number of times one buys a house, which is not strictly the case.