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Buy to Let Property

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Comments

  • hazyjo
    hazyjo Posts: 15,475 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Where will you be the other 5? Correct me if I'm missing something, but if you live in one place for 5 days a week and somewhere else for 2, how can the weekend place be your main residence?
    2024 wins: *must start comping again!*
  • Miranda25
    Miranda25 Posts: 357 Forumite
    Seventh Anniversary 100 Posts Name Dropper Combo Breaker
    I would be an owner of property where I live 2 days per week, and not the owner of property where I am 5 days per week. 
    All post letters would come where I am 2 days per week. 
    Then for tax purposes who would be the person to whom I rent one of the rooms- lodger or tenant please?

    Would it change anything if it would be different split- I live there 3 days/week?
    Would it change anything if it is not HTB property but normal property please? Thanks :-)
  • [Deleted User]
    [Deleted User] Posts: 3,297 Forumite
    1,000 Posts Fourth Anniversary Photogenic Name Dropper
    edited 9 July 2020 at 1:10PM
    Miranda25 said:
    I would be an owner of property where I live 2 days per week, and not the owner of property where I am 5 days per week. 
    All post letters would come where I am 2 days per week. 
    Then for tax purposes who would be the person to whom I rent one of the rooms- lodger or tenant please?

    Would it change anything if it would be different split- I live there 3 days/week?
    Would it change anything if it is not HTB property but normal property please? Thanks :-)
    Just because your post will go to your weekend home that won’t necessarily make it your main residence in the eyes of HMRC or housing law. 

    Instead of “what if” questions and one scheme after another why not do some research? 

    I’m not convinced you’re eligible for any HTB scheme anyway because of a property you own abroad but have put in your mum’s name....nudge nudge wink wink. 
  • FirstTimeSolo
    FirstTimeSolo Posts: 125 Forumite
    100 Posts First Anniversary Photogenic Name Dropper
    If you owned a flat but spent most days at a boyfriend’s place for example, without any legal contract etc at his place, then it might be ok. But if you rent somewhere else while a lodger lives in your own flat, that sounds dodgy. 
    First time buyer benefits are meant to support people who actually want to buy property to Iive in and make a home of. They are not meant to profit from and use in unethical ways 
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