Mortgage Interest Relief - can I get the FTB rate on my new mortgage

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miser

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Tried a search for this but didnt find anything...

I bought a PPR in 2005 and sold it in 2008. I availed of Mortgage Interest relief (TRS) for those 4 years at the FTB rate.
I rented a house for 2008/9.
Let's say in 2010 I buy another PPR. Can I claim MIR at the FTB rate for 2010-2012? Or will I be classed as a 'second-time' buyer and get the reduced MIR?

Thanks for your help.
 
Normally your FTB status runs for 7 years from when you first took out your first mortgage (2005 - 2011). Because you sold your PPR in 2008 you only used 4 years of your FTB status.

If you ring the TRS helpline (1890 46 36 26) and explain to them that you are no longer a mortgage holder and would like to freeze your FTB status until you buy another property in the future. That way you will be able to avail of your last 3 years FTB status in the future (if you don't contact TRS regarding your position, your FTB status will automatically cease at the end of 2011)

Based on the changes announced in the last Budget, once you purchase a new home in, say, 2010, you will be entitled to 7 years TRS on that new mortgage.
2010 - 2012 as FTB status
2013 - 2016 as nonFTB status
 
quick update for anyone interested- i rang the TRS number, turns out you're not allowed to 'freeze' your ftb status when you sell a house and clear the mortgage. My ftb status runs for 7 consecutive years from 2005 to 2011, but if i do buy a new house in 2010, i get 7 further years mortgage interest relief, albeit only 2 years at the ftb rate and 5 more at the non ftb rate.
 
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