TRS - have all 7 FTB years been used up?

My sister bought a house in 2002 and repaid the mortgage in full in 2006.

She has sold this house and bought another this year 2009, (yes, she got another mortgage)

Does she have 2 years left from the 7 years as a FTB (for TRS purposes), as she did not pay a mortgage and therefore not receive TRS in 2007 and 2008.

I'm not a financial wizz by any means, but I think she's used up her FTB's TRS.
AFAIK, it's 7 years from first purchase. So you can technically move house as many times as you want within the first 7 years and keep the TRS.
But since the 7 years are now up, even though the mortgage was paid off early, I reckon she's lost her entitlements.

As an aside, fair play on getting the mortgage paid off that early...regardless of how she managed it.
The FTB's TRS is to help people get on the property ladder. Surely your sister doesn't need the FTB TRS since she's sold her house and pocketed all monies received since she'd no mortgage?

I might be missing something here Toto but surely she is no longer entitled to this due to the fact she is not a FTB anymore, regardless of the years missed?

Ceist Beag said:

I might be missing something here Toto but surely she is no longer entitled to this due to the fact she is not a FTB anymore, regardless of the years missed?

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You are an FTB from the date you purchase your first house - for that year plus 6 years thereafter. You can change your PPR as many times as you like during that period and still be an FTB.

WaterSprite said:

You are an FTB from the date you purchase your first house - for that year plus 6 years thereafter. You can change your PPR as many times as you like during that period and still be an FTB.

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Thanks WaterSprite, didn't realise that.

I would have thought that the 7 years are up as well.

I ask the question because my sister has rang revenue and has been advised differently.

She was on (let's call it) year 8, but having informed them of the situation in years 6 + 7, they are now putting her back to year 6 and paying the difference for 2009 to date.

My sister can be quite persuasive on the phone and I suspect that she spoke to someone who was not overly sure of what they were doing. Or is this possible?

Toto said:

I would have thought that the 7 years are up as well.

I ask the question because my sister has rang revenue and has been advised differently.

She was on (let's call it) year 8, but having informed them of the situation in years 6 + 7, they are now putting her back to year 6 and paying the difference for 2009 to date.

My sister can be quite persuasive on the phone and I suspect that she spoke to someone who was not overly sure of what they were doing. Or is this possible?

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Revenue is correct. See examples A and B in this document
[broken link removed]

WaterSprite is also correct (which is illustrated in those examples).

What a forum - thank you dreamerb!

The term 'FTB' is quite misleading here.

No problem - and yes, it is misleading. The good thing about it is that, unusually, it's misleading in a way that's more likely to give people a pleasant surprise than a nasty shock!