The end of TRS and different mortgage drawdown times

Z

z101

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From what I understand if you take out a mortgage before July 2011 you will receive 7 years TRS. Please confirm anyone in the know?

What if your building a house in 2011 and am drawing down the mortgage in stages. If some was drawn down in say May 2011 and rest in sept 2011, would you get TRS on the whole mortgage on completion or only the part drawn down prior to the cut off point for TRS qualifying mortgages?
 
Cant see where that link answers the question.

If your building a house a bank may grant you a mortgage of a certain amount which is drawn down in say 3 installments during the build. What if one of these installments is after july 2011 in relation to TRS?. This is not a top up. Hope that makes it clearer and you can point it out on your link.
Thanks
 
i dont know where your getting the date of july 2011.

If you purchase a property and it is your first property either in 2010 or 2011 you will receive TRS up to and inluding 2017 at the current rates
 
I though loans drawn down before this get full TRS untill 2017, and after this not so. I know there is a cut off point some where.
Question is after this time, on such a mortgage described what will happen?
 
if you drawdown all money in 2011 you will receive trs to the full extent at the current rates until 31/12/2017.

if you drawdown partial funds in 2011 and some in 2012.
i am unsure of what will happen, it depends on how your bank reports to the revenue.
1st way, you will receive trs at the current rates on all balances until 31/12/2017
2nd way, you will receive trs at the current rates on the balances drawndown in 2011 until 31/12/2017,
and you will receive trs at a lower rate of TRS at a rate of 10% on a ceiling of 3,000 up to 31/12/2017 for the balances drawn down in 2012.
 
'if you drawdown partial funds in 2011 and some in 2012, i am unsure of what will happen, it depends on how your bank reports to the revenue'

This is I am looking to know.
 
i would suggest ringing the revenue,
but apart from the two options i have mentioned.
you the revenue and everyone else might not really know until it actually happens.
 
Thanks for the answers, thought someone on here might know.
 
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