Mortgage TRS - Single now, marry later?

23rdbuchan

Registered User
Messages
13
Hi All,

As a single person FTB I will be entitled to 25% of the first 10k interest, or about 208 euro per month initially.

If I buy a house as a FTB, and then at some point marry someone who is not a FTB and already used up their 7 years of FTB status for TRS, how is our TRS calculated?

Are we jointly assessed as FTB's and pull 416 euro per month (25% of 20000 pa)?

Or is it my 208 (25% of 10000) + her 37 (15% of 3000) giving a total TRS between us of 245 euro per month?

Who do you inform of your marital status change, etc., to benefit from the new status , whether it be a change to 416 a month or 245 a month?
Would I need to put my new wife's name on the mortgage/deeds in order to qualify, or how does it work?

Cheers
 
would also like to know this. We got married in October 2006 and husband had the house since Feb 04 but we only put me on the deeds since we got married .

Anyone know what will happen in this case either?
 
The higher limits for first-time buyers, apply for the tax year in which the mortgage is taken out plus six subsequent tax years.

Your husbands 7 years started in 2004, yours started in 2006.