Rent of affordable home - update?


Rent out your homes if you want. The Council have no real way of punishing you for doing so. The reality is that most of us paid over the odds for our homes and they certainly do not look like a great deal with hindsight and were not so affordable.

If you go to the Council and tell them you are renting out your home you are allowing the Council an opportunity to suspend the 20 years clawback from running out.
 

I'm not sure the Council has the power to do that, as the 20-year clawback is written into the legislation with no provision for adjustment or suspension.

They do have the power to come after you for breach of contract, it's a question of whether they would or not.
 
I was reading this and was wondering what the implications are... I hope someone knows what the best option is regarding CGT

there is a mortgage of 140 left with bank, initially 220k, affordable home 325k
The house was registered as a nppr in 2013 after living in it for 6 years as a ppr, it was never let and is just sitting there.
in 2013 it was worth about 140k now about 170k,
hoping to get to 200k eventually and sell it in x number of years...

If any body has advice to what I should do: sell, wait for 200k?
What is my liability of CGT, Clawback etc...
 

Hi There,

This thread is excellent. I have rented rooms in my house (Shared Ownership) for a few years, but recently I have been contemplating renting the house to a family, but I am confused about one thing. It states in the various websites that Landlords can allow deductions in their tax returns for Ground Rent and seen as my mortgage is partial rent partial capital loan, I was wondering if I can offset the rental side of my mortgage against my tax returns. Advice please?
 

I'd be interested in an answer to this. It has been stated before that the 'rental' side is not really
rental but actually also a mortgage. But since it is called rent I wonder what the tax implications are?
 

You seem to be confusing ground rent with mortgages. Ground rent is a cost to a property, some properties. It could be 5 pence a year. This is a tax deductable cost. It's generally on old leasehold properties.

I've no idea though what you mean by your mortgage being partical rent partical capital loan. Do you mean your mortgage payments costs of two elements, capital and interest. Capital is paying down the original amount borrowed and is not tax deductable. But the interest is, at 75%. (and soon at 100% if you have social welfare tenants)
 

Hi Bronte,
I think he is referring to the rental element of a shared ownership loan. Brendan does clarify though what the term "rent" means in this instance.
http://www.askaboutmoney.com/threads/how-shared-ownership-works.171257/
 
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My neighbour has rented her apt since she got the keys. Never stayed a night.
 
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