Property purchase and PPR status

[Sievehead]

I am trying to make some money for my future. I am currently living with my parents and saving to build in approx. 5-10 years time. There is a two bedroom house for sale in my local town which I could afford a 90% mortgage as a first time buyer. My question is: can I continue to live in my family home 95% of the time and live in the house I am interested in buying for 5% of the time in between lets etc and still call that house my PPR?

Would the rent fall under the rent a room scheme or would it be liable to tax? The rent would be about 7-8k per year, the rent would well cover the mortgage.

Thanks for any steer you could give me.

 

[Roro999]

I doubt you can go down this road. If you were to occupy the house you propose purchasing and rent a room then your fine.

 

[Leo]

Would the rent fall under the rent a room scheme or would it be liable to tax?

If you're only there 5% of the time rent-a-room relief would not apply. You would need to register the tenancy and pay tax.

Also note that it is only likely to become more difficult to build one-off housing in the years to come, who know what 5-10 years will bring. If you purchase a house now, you will fail the local needs criteria in many areas.

 

[Sunny]

If that was possible, there wouldn't be a landlord out there not living in their rental property between lets and claiming rent a room relief. You are talking about buying a rental property and would have all the costs and issues associated with it. If you do go down this road, why not live in the property and rent out the second room which by the looks of it would still cover the majority of the mortgage. I don't know what age you are but are you really planning on living with your parents for potentially another 10 years in the hope of building something??