Frequently Asked Questions

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Which mortgages, or what parts of a mortgage, will be included in PC entitlement?

Those mortgages, or parts of a mortgage, which are taken into account are those taken out for the purpose of acquiring an interest in the home, or those taken out for certain essential repairs and improvements. If a second mortgage has been taken out, with part being used to acquire an interest in the property but the rest for other purposes, it is only that part of it which is being used to acquire the interest in the home which is eligible. Only the first £200,000 of a qualifying mortgage will be used in the calculation of the interest liability for PC purposes.