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letting a house out but first time buyer mortgage

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  • 29-06-2012 11:21pm
    #1
    craftypaddy
    Closed Accounts Posts: 508 ✭✭✭


    my neighbour was just boasting to me that he is renting out a house he has a mortgage on but said he doesnt have a buy to let mortgage, he asked me to keep it on the low down as he could lose his deal with the bank.

    is he really saving much money by doing this, and why is he keeping it quiet i can hardly walk into his bank and tell them it could be any bank.

    good luck to him but is it worth the hassle or saving


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    #2
    Rebel1977
    Registered Users Posts: 802 ✭✭✭Rebel1977


    buy to let rate is higher than standard rate.

    Maybe he wants you to keep quiet as he may not be declaring to the the tax man income he is getting from the house also if it's a rented house he is liable to the €200 annual charge.


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    #3
    Jose1
    Registered Users Posts: 129 ✭✭Jose1


    Rebel1977 wrote: »
    buy to let rate is higher than standard rate.

    Maybe he wants you to keep quiet as he may not be declaring to the the tax man income he is getting from the house also if it's a rented house he is liable to the €200 annual charge.

    Plus the PRTB fee (90Euro?) plus the Household Charge (100Euro):eek:


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    #4
    NIMAN
    Registered Users Posts: 33,589 ✭✭✭✭NIMAN


    I'd say many people don't pay tax on their rental income.

    When I was about to become a LL I was chatting to a few people I know who rented out houses and asked them about how much tax they paid every year.

    The responses in cases?

    "Uh?".


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