Mortgage TRS and top-up

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techman

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I have just increased my mortgage. I have been claiming TRS already.

Do I need to complete a new TRS form for the increased amount?
 
techman said:
I have just increased my mortgage. I have been claiming TRS already.

Do I need to complete a new TRS form for the increased amount?
Click to expand...

Not sure. Call TRS Section on 1890201106 and they will tell you
 
It depends what the top up is for. If it is for renovations, then you can claim TRS, but if it is for something else other than your house you cannot claim TRS.
 
What are you using the top-up money for? If the top-up is not being used to purchase/renovate your PPR then it does not qualify for owner occupier mortgage interest tax relief just because it's secured on your PPR.

Post crossed with Helen's!
 
I've assumed from the question that the loan qualifies.

I think the OP wants to know if he needs to fill in a new form in respect of the top-up.
 
The top-up is being used for home purposes. I think I have to complete a new TRS form anyway - even though I am already claiming the maximum amount.

Thanks all.
 
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