TRS & rental property / my apt / husbands home

F

fifi27

Registered User
Messages
11
Hi there

I have an apt in my name which is going to be rented out, I plan on stopping claiming my trs on it. I am going to be living with my husband. My name is not on the deeds of his house or the mortgage, I just pay the bills and do the shopping.

He claims his own TRS but since we are now being taxed as a married couple (married seperate assesment) the TRS section told him that he could increase his TRS as we are married. How will that impact on my ability to keep my residential mortgage and get out of changing it to a rip mortgage.

Permanent TSB told me once I don't hold any legal title to another property then I should be fine to keep my current tracker mortgage as long as I cancel my TRS.​
 
I don't understand the going to live with husband bit, are you just married. Look at the terms of your mortgage and if doesn't state that you have to tell the bank if you change from residential to investment property then they don't have to know. You need to register with the PRTB and change your house insurance.
 
Hi Bronte

Yes we are just married 6 mths, I wanted to wait until I was in my 3rd year of ownership so I that I don't have a stamp duty liability when I went to rent it out. Yes have looked into changing the insurance, I will go home and read my t & c's tonight, thanks for this Bronte
 
I think the new stamp duty rules are 2 years and not 3. Check revenue.ie for the details and you can move in tonight
 
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