TRS on mortgages

djeclips said:

Being a ftb on the first property and using up just over two years of the higher relief. would the higher relief carry over to my current property(until the 7 years is up)

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Yes. You carry the remaining 5 years of "FTB" relief over over.

bamboozle said:

If you own a house on your own and pay at least 10,000 interest PA then you are entitled to 10,000*20%=2,000PA (166.67pm) relief

IF 2 people own a house they are entitled to 20% up to a maximum of 20,000 interest paid ie 166.67*2=333.33.

For argument sake if your mortgage is 400,000 and your Interest rate is 5%, you pay annual interest of 20,000, if this mortgage is in your name you will receive Relief on 10,000 if the mortgage is in 2 names than you earn relief on 20,000

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Does this mean that the mortgage needs to be in both names or just that i am married? - the thresholds mentioned are now 20k for married person - i am + FTB however the house is solely in my name ( not sure about the mortgage - i think that is in both names ) should i be entitled to the upper limit? my wife has a separate mortgage on another property as a FTB ( for which she is not claiming TRS )