We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Tax on income from renting a property
Comments
-
No-one in their right mind would on an interest-only mortgage! In a falling market!
I thought the point of buy-to-let was that the tenant was paying your mortgage, not that they were paying part of an interest-only mortgage, leaving you to pay the rest, whilst your equity fell further...
Yeah, we're not really doing this because we want to become property barons. Personal circumstances have changed which mean the small 1 bed we're in will no longer be big enough.
I can afford to buy a bigger place having spent the last 10 years being boring and saving every penny, the problem is with my gf's current place. We either a) sell up now and make a few thousand loss, or b) look at the flat as a long term (10 yr+) investment, let the place out and cover the interest with rent payments, and hope that in the medium to long term future that the value goes up again. In the meantime paying off capital when we can. Well when she can, i'll be putting all my extra money into the new place.
If the worst comes to the worst we could stay in our current place, but it's far from ideal.
I'm kind of torn between selling and renting it. Selling it would be FAR less hassle than trying to rent it has been (especially since Halifax now seem to be changing their mind about letting us let it out hey ho), but then i will be kicking myself in 15 years if we sold it now and house prices went up again, which i'm sure they will at *some* point in our future lives.
As for interest only..yeah i agree, but i wasn't around when my gf bought it!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.5K Work, Benefits & Business
- 604.3K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards