Mortgage Interest Relief (Tax Relief at Source - TRS)
What was a qualifying mortgage loan?
A qualifying mortgage loan was a loan secured by the mortgage of freehold or leasehold estate, or interest in a principal private residence.
A qualifying mortgage loan may have been:
- a new mortgage
- a top-up loan used to develop or improve the home
- a separate home loan used to develop or improve the home
- or
- a re-mortgage or a consolidation of existing loans.
Examples of qualifying mortgage loans
Qualifying mortgage loans were loans used for the purpose of:
- purchasing your home
- extensions or purchasing or constructing a
- garage
- garden shed
- greenhouse
- swimming pool
- tennis court
- constructing a driveway or path
- conversions
- installing central heating
- rewiring and plumbing (including bathroom suites)
- replacing windows and double glazing
- purchasing and installing bedroom and kitchen units which are affixed to and become part of the building
- purchasing and installing burglar or fire alarms
- the installation and treatment for damp, dry rot and woodworm
- landscaping gardens (including garden walls)
- payments to group water and sewerage schemes
- purchasing another person's part interest in the home
- legal fees and other fees related to purchasing or developing your home
- Stamp Duty on the purchase of your home.
Next: How do you re-pay Tax Relief at Source (TRS) that was overpaid?