TRS form Question

This may be long winded but I would really appreciate some help!
I bought an apt from plans in April 2004. I had to pay a E15000 down payment. I drew this amount down from my mortgage to cover the cost. I closed on the apt in Dec 2005 paying the outstanding.
My first full mortgage repayment came out at the end of Jan, pror to this I had been paying approx E50 a month on the E15000 that I drew down.
On the TRS form it asks for the date of first mortgage repayment, I'm not sure what to put down to get the maximum relief.
Any advice
Regards

Anyone got any advice??

I would guess that it is when you first drawdown and are occupying the property, that would be what I would expect and not fom when you first drew down funds to fund deposit, after all mortgage really only kicks in when you have posession of the property.

I would include a note explaining the specifics. I guess you would be entitled to relief on the interest for 15000 from april to Dec and then full relief from jan onwards.

Istabraq1 said:

Anyone got any advice??

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Please note that the do not permit for the 'bumping' of posts.

Please be more patient in future-it's a bit much to expect an answer within one hour of posting a question.

Apologies for the bumping and lack of patients... just want to fill out the form today. Thanks for the advice

Assuming that you are a first time buyer remember that the seven year countdown commences from the drawdawn date

In addition in order to answer your query I am making the following assumptions:

Interest Rate 3%
Mortgage 250,000
You are buying this property as a single person

Amount borrowed in April 15,000 @ 3% interest to dec = 300
If this is used you will only get interest relief of 300 @ 20% = 60 and the seven year ends on 2011

However if you wait until Jan 2006 as your first repaymment date

Interest @ 3% 7,500 - Max for a single person is 4,000 @ 20% = 800 (8,000 for a couple @ 20%)

You can claim this 800 in interest relief for seven years i.e till 2012.
as against the 2540 @ 20% = 508 (max allowed after this date)

Hope this makes sense.

Cheers mate, mind made up, your a gem.