Good deliemma to have

Typhoon2000

If you don't have a mortgage then the BTL changes won't affect you. If you not planning on renting out then you have no extra tax to pay. If the other option is private school fees then moving closer to school sounds a good option. Sure have two homes, weekdays and weekends, for 10yrs.
You will never make the £24-30k per year in school fees investing your money elsewhere.

capstain411

Keep_pedalling wrote: »

So are you saying you are going to fraudulently claim this as your residence, when applying for school places for your children?

No..if I have to use home as second home, pay council tax, then I am entitled to send my kids to any schools in that area,I am getting what I am paying for. That is not fraud.

capstain411

ACG wrote: »

stocks, shares, classic cars, gold. Or one of those peer to peer business investment sites.

Agree.

All courtesy of discussion s here

Stocks and shares - interactive investor SS is a - current holding 11k. Through turmoil doing cumulative +3%.
Classic car- holy god- don't understand it so never thought of it.
Gold - PHGP gold ETF... current holding 4k thru ISA.
P2p- Exposure to Ratesetter and crowd cube - don't know why I invested in some projects.

csgohan4

capstain411 wrote: »

No..if I have to use home as second home, pay council tax, then I am entitled to send my kids to any schools in that area,I am getting what I am paying for. That is not fraud.

Go ahead, but if the council inspectors find out, you could find your child needing to go to another school. You only rented the flat to get a place at the school not a home


http://www.bbc.co.uk/news/magazine-34014556

Thrugelmir

capstain411 wrote: »

hoping property price will grow cumulative by atleast 4-5% in next 10 years. Definitely realistic.

That's some growth rate.

Why not move house instead?

AnotherJoe

capstain411 wrote: »

No..if I have to use home as second home, pay council tax, then I am entitled to send my kids to any schools in that area,I am getting what I am paying for. That is not fraud.

It is if you don't live there, which is what you said you'd plan to do.

Typhoon2000 wrote: »

If you don't have a mortgage then the BTL changes won't affect you. .

Are you sure ? Isn't the amount of interest that can be offset reduced ?

capstain411

Thrugelmir wrote: »

That's some growth rate.

Why not move house instead?

Thanks Thru....is that optimistic. I would have thought over 10 years the prices would grow if a decent enough area. Worst case scenario it would be less likely to go down in value.

capstain411

csgohan4 wrote: »

Go ahead, but if the council inspectors find out, you could find your child needing to go to another school. You only rented the flat to get a place at the school not a home


http://www.bbc.co.uk/news/magazine-34014556

If you read the original post. This is about buying the property not renting. What is defined as living in property...last few months, we barely spent any time in our home as most time spent at parent's home.

If council wants to visit... they will be more than welcome. What stops us from using 2nd property as SOHO ( wife works from home) and live over there weekend and weekdays. Nobody can dictate the min number of hours to be spent where. As long as I am not renting the place out and using it on weekly basis and paying my local taxes.

ViolaLass

AnotherJoe wrote: »

Are you sure ? Isn't the amount of interest that can be offset reduced ?

If there's no mortgage there's no interest to offset.

AnotherJoe

ViolaLass wrote: »

If there's no mortgage there's no interest to offset.

Ooopsy. Yes, you are of course correct.