Mortgage interest reclaim - wait until January?

R

roadrunner

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I`ve been paying interest only on my mortgage repayments since drawdown in May 07. I haven`t yet claimed mortgage interest relief.
If I wait to claim in January - will I be able to claim relief on all interest paid so far on the new rate of 25%?
 
No it will be backdated to when your mortage started in May at current rate. When new rates come in you will be on the new rate if you are a FTB and it is your principle residence.
 
If you draw down your mortgage in December and begin your repayments in January when is your first year for TRS purposes? December or January? Bummer if its December as you would lose the whole of that year!! I have read elsewhere it could be December.......
 
mayo exile said:
If you draw down your mortgage in December and begin your repayments in January when is your first year for TRS purposes? December or January? Bummer if its December as you would lose the whole of that year!! I have read elsewhere it could be December.......
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really would love to hear a definitive answer to this as we should (fingers crossed!) have our first repyment by December.
 
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