Getting out of here

[canadabound]

Hi there.

Just looking for a bit of advice. My wife and I will soon be moving to Canada, however, we bought a new house two years ago for €335k. I was under the impression that we could rent it after two years without any backlash, tax, stamp duty, that sort of stuff. Ideally we'd sell the house but in our wisdom we got a 100% mortgage and obviously selling now would be a disaster (and probably impossible).

Anyway can someone tell me if I CAN rent my house and what the implications would be.

Thanks in advance

 

[Eblanoid]

Google is your friend:

http://www.citizensinformation.ie/categories/housing/owning-a-home/buying-a-home/stamp_duty

Reduction of claw-back period: for purchase deeds dated on or after 5 December 2007 the clawback period is reduced to 2 years. Where a property was purchased before 5 December 2007 but was rented on or after that date, there will be no claw back of stamp duty relief if it is rented in the 3rd, 4th or 5th year of ownership.