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Buying Property in the North To Let

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  • 03-12-2006 1:43am
    #1
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭


    Has anybody any experience / advise to give about buying property to let up in the North. I hope to get a mortgage to cover the purchase and any stamp duty (if any??) etc. Does anybody know if a property purchase up north would affect the first time buyers status? If this is a prob I may have to put the property in someone elses name (not sure what the tax implications are??). Any help would be greatful


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    #2
    Victor
    Registered Users Posts: 78,397 ✭✭✭✭Victor


    stepbar wrote:
    Does anybody know if a property purchase up north would affect the first time buyers status?
    Buying property anywhere in the world affects FTB status.

    Tax evasion usually ends up in tears.


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    #3
    Zambia
    Closed Accounts Posts: 7,333 ✭✭✭Zambia


    Property in the north has gone a bit mad especially in Belfast. Rise in price has been equivilant to the last 4 years in the south with some areas experiencing 55% this year. This trend may well shudder to a halt soon as wages here are sadly lagging.

    If you sent this post in Dec 2005 you would have been looking at a very large return. Now its all gone a bit pear shaped. As a 100,000 mortgage(assuming you have the other 80,000) will cost you more than the rent of under 500 (average).

    However there may be some legs left in the market , but its sure to slow this year.

    Get a few figures and stick them into Brio and see if they fly ...?

    regardless of your FTB status :-)


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    #4
    ditpoker
    Closed Accounts Posts: 3,860 ✭✭✭ditpoker


    my brother is looking into buying inthe north. He will be a first time buyer. ANy info on the north makret would be great. Thankss.


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    #5
    Zambia
    Closed Accounts Posts: 7,333 ✭✭✭Zambia


    Its been a tad mad let me know what area he is looking into and I will see if I can help you out.

    Once the troubles where seen to be behind us property took off...

    Past returns in this case are definatly not a good indication of future growth.


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