Investment/Mortgage

K

KKK

Guest
I hope to buy a house as an investment and rent it out.
I dont have a deposit, and I am a first time buyer.
I am only out of College and started new job only 3 months ago.
Who would be the better Mortgage providers??
 
you wont be able to avail of 100% , this is restricted to Private Dwelling homes and you must also be employed for a minimum of 12 months with EBS and ICS and 3 years for 100% mortgage with FA, PTSB and UB.
 
Also as the proposed purchase is an investment you will be liable to stamp duty as an investor and you will not be able to claim interest relief.

You will as an investor be able to write off the interest on the mortgage and other expenses against the rental income.
 
BUt he could just buy it as a PP and rent out rooms up to 7620 (I think) per annum.

No new stamp duty worries or tax liabilities.

Noob.
 
noobie99 said:
BUt he could just buy it as a PP and rent out rooms up to 7620 (I think) per annum.

No new stamp duty worries or tax liabilities.

Noob.
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Yes but I think he is supposed to live there too. He can rent out the rooms for more than the 7k approx limit, he will just have to pay tax on the amount above the treshold.
 
SteelBlue05 said:
He can rent out the rooms for more than the 7k approx limit, he will just have to pay tax on the amount above the treshold.
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Not true - If he exceeds the threshold for the rent-a-room scheme, then all rental income (not just that which exceeds the threshold) is taxable.
 
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