Hi guys,
I am moving to New Zealand in November and we are going to lease out the house and I am looking for some information.
First of all, the mortgage was not drawn down until the 23rd of Nov two years ago, therefore, if we rent it out before then we will be obliged to pay back some of the stamp duty we were exempt from, is this correct? - following on from this, does this mean we physically have to be in the country until this date or can we sign a contract with the tenants previous to this and ensure that the contract is not valid until the 23rd (ie, move in date, 23rd?). We would like to do this as we plan to move before this date.
2nd question, are we still entitled to claim TRS on our mortgage on the home? The rent we receive will be less than the mortgage so we will not be making any money on the home.
3rd question, I would like to use a letting agency and management agency, can they do all the paperwork for us provided we have the house ready so we can leave the country asap?
Thanks for all your help! Just a little confused on some things.
I am moving to New Zealand in November and we are going to lease out the house and I am looking for some information.
First of all, the mortgage was not drawn down until the 23rd of Nov two years ago, therefore, if we rent it out before then we will be obliged to pay back some of the stamp duty we were exempt from, is this correct? - following on from this, does this mean we physically have to be in the country until this date or can we sign a contract with the tenants previous to this and ensure that the contract is not valid until the 23rd (ie, move in date, 23rd?). We would like to do this as we plan to move before this date.
2nd question, are we still entitled to claim TRS on our mortgage on the home? The rent we receive will be less than the mortgage so we will not be making any money on the home.
3rd question, I would like to use a letting agency and management agency, can they do all the paperwork for us provided we have the house ready so we can leave the country asap?
Thanks for all your help! Just a little confused on some things.