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Hi Guys,
I am 22 Years old. My Parents has given me 3 houses in a trust. The 3 Houses are In London. They have also given me 1 house in asia and 1 in america. The houses in asia and America do not generate much rental income. If I want I could sell them now and make around £150,000. But I have decided to keep them for the little rental income they provide.
The 3 houses in London are in a prime location near Crossrail. The rent for house number 1 is £2000 a month it's a 4 bedroom 2 bathroom conservatory and detached private garage. The house has been valued at around £500,000.
The second house is a Victorian house which is a 3 bedroom house which can be sold for £360,000 to £380.000. It generated a rental income of £1500 a month. The third houses is the biggest house and is worth around £800,000 and it generate around £3000k a month. It has granny annexe. Which can be put on rent for £1200 which I haven't done yet.
All together the houses generate before any tax is due which is sorted by the accountant . They generate £78,000 before any tax is generated. If I wanted to sell the houses now I could gain £1.7m. But the estate agent has told me that because the house are in a prime location new high street and Crossrail. I could sell all 3 in the future for near £2million. I could gain around £85k rent a year before tax which the accountant will pay the required tax. I would have around £75k a year income . I always wanted to move to united states were £75k would be around $100k a year. If I sold they would be around £2million which is around $2.7million dollar.
I am only 22 years old and have been saving for my own first home. I can't get the first time buyer discount because I already have 3 houses in London and 2 aboard which my parents have given me. I want to see the mortgages advisor and she was fuming that I would ask for the discount when I already have 3 houses in London. I haven't bought my own house, why can't I have the discount. I been working from last year after finishing university.
I been working for 1 year and earn around £25,000 a year after tax. I want to buy my own house . What would you do in my situation???
I am 22 Years old. My Parents has given me 3 houses in a trust. The 3 Houses are In London. They have also given me 1 house in asia and 1 in america. The houses in asia and America do not generate much rental income. If I want I could sell them now and make around £150,000. But I have decided to keep them for the little rental income they provide.
The 3 houses in London are in a prime location near Crossrail. The rent for house number 1 is £2000 a month it's a 4 bedroom 2 bathroom conservatory and detached private garage. The house has been valued at around £500,000.
The second house is a Victorian house which is a 3 bedroom house which can be sold for £360,000 to £380.000. It generated a rental income of £1500 a month. The third houses is the biggest house and is worth around £800,000 and it generate around £3000k a month. It has granny annexe. Which can be put on rent for £1200 which I haven't done yet.
All together the houses generate before any tax is due which is sorted by the accountant . They generate £78,000 before any tax is generated. If I wanted to sell the houses now I could gain £1.7m. But the estate agent has told me that because the house are in a prime location new high street and Crossrail. I could sell all 3 in the future for near £2million. I could gain around £85k rent a year before tax which the accountant will pay the required tax. I would have around £75k a year income . I always wanted to move to united states were £75k would be around $100k a year. If I sold they would be around £2million which is around $2.7million dollar.
I am only 22 years old and have been saving for my own first home. I can't get the first time buyer discount because I already have 3 houses in London and 2 aboard which my parents have given me. I want to see the mortgages advisor and she was fuming that I would ask for the discount when I already have 3 houses in London. I haven't bought my own house, why can't I have the discount. I been working from last year after finishing university.
I been working for 1 year and earn around £25,000 a year after tax. I want to buy my own house . What would you do in my situation???
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Comments
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I agree with your mortgage advisor. Why on earth should you get a discount?
Why, in effect, should I contribute to your house purchase?
Mind you, it IS the school holiday season, innit?0 -
Accept that I had been very lucky to be given several houses like that and at quite a young age and forget about trying to get the taxpayer to cough up to help you out even more.
If I owned several houses and had that sort of income - then I'd have no complaints about my finances.0 -
What is this first time buyer discount? My first house was bought from the vendor at the agreed price, paid more in interest as I was a first timer as well.
As for the rest of your post, well done for the £1.7m worth of properties and pre tax annual additional income of £78K you get.
Keep it up.0 -
Maybe start a just giving page? My guess is you!!!8217;ll have the money in no time.
!!!!!!0 -
If this isn't the definition of first world problems I dont know what is0
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I admire your dedication for wanting to buy something with your own money.
I also admire your audacity for asking for tax deductions when you have £2m in property equity and £85k/year rental income...
If you want the discount you can just sell the properties you currently own and buy a new one.0 -
Sweet nelly, seriously!
When we first bought our own house you didnt even get ANY help, do you think i should complain OP and demand some money back.
No your right i shouldnt, because it sounds as ridiculous as your problem.
Eugh!,Fully paid up member of the ignore button club.If it walks like a Duck, quacks like a Duck, it's a Duck.0 -
Has anyone seen my violin? Its very very small and I've lost it...0
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Are you trying to wind forum posters up?0
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