I know this has been covered in previous threads but I’m still at a loss.
I’m a owner occupier for the last 4 years & my girlfriend is also owner occupier for the last 3 years. We are getting married soon and we intend to live in my girlfriend’s house after marriage as PPR. We intend to rent my house out.
What do I have to do from here?
Am I correct in saying my home has to be declared as an investment property? What does this mean? What are the consequences if I don’t? Do I have to change my mortgage with the bank as an investor mortgage? My owner occupier mortgage is up for renewal shortly. I’ve heard there is no point changing it as I’ll only have to pay capital gains tax.
Secondly should I get an interest only mortgage for this investment property?
Thirdly –if I declare my house as investment will I lose my TRS?- or will this double on our new PPR.
Forthly -Am I correct in saying there will be no clawback on stamp duty now that the law has changed recently?
Fifthly- Anyone any idea how much tax roughly would have to be paid on an rental income of 1000 per month with a mortgage of roughly 240,000 Euro ?
I’m a owner occupier for the last 4 years & my girlfriend is also owner occupier for the last 3 years. We are getting married soon and we intend to live in my girlfriend’s house after marriage as PPR. We intend to rent my house out.
What do I have to do from here?
Am I correct in saying my home has to be declared as an investment property? What does this mean? What are the consequences if I don’t? Do I have to change my mortgage with the bank as an investor mortgage? My owner occupier mortgage is up for renewal shortly. I’ve heard there is no point changing it as I’ll only have to pay capital gains tax.
Secondly should I get an interest only mortgage for this investment property?
Thirdly –if I declare my house as investment will I lose my TRS?- or will this double on our new PPR.
Forthly -Am I correct in saying there will be no clawback on stamp duty now that the law has changed recently?
Fifthly- Anyone any idea how much tax roughly would have to be paid on an rental income of 1000 per month with a mortgage of roughly 240,000 Euro ?
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