Hi,
Mrs Paddyc and myself are planning on renting out our apartment and buying a house. We are only in the early stages of this but have heard that for tax reasons it would be better if the apartment was only in 1 of our names. Mortgage is in both names and would continue to be.
Can anyone clarify if the info we were given is correct, I have just taken over all her tax credits as I'm on a higher salary so who's name would it be best to have it in ?
Also any ideas of a ball park figure for legal costs ? Would we have to use the same solicitor when we bought the apartment ?
Thanks,
Mrs Paddyc and myself are planning on renting out our apartment and buying a house. We are only in the early stages of this but have heard that for tax reasons it would be better if the apartment was only in 1 of our names. Mortgage is in both names and would continue to be.
Can anyone clarify if the info we were given is correct, I have just taken over all her tax credits as I'm on a higher salary so who's name would it be best to have it in ?
Also any ideas of a ball park figure for legal costs ? Would we have to use the same solicitor when we bought the apartment ?
Thanks,