in the mire
Registered User
- Messages
- 41
Hi all
my friend recently got married and moved out of his apartment whichs he owns (owns 130k share) half share with his brother to live with his wife, his wife owns a bigger house so it makes sence for them to live there, the problem is he is still paying a mortgage on his apartment as well as helping pay his wifes mortgage. both properties are in negative equity as they were bought at peak. my questions are, (1)If he lets out a room (say 300euro pm)in his half share apartment does he loose his interest relief as it is not his priciple residence (2) does the new tennant get a rental tax credit(3) if YES to the above is it not worth renting out the room or is there any other way around it.
my friend recently got married and moved out of his apartment whichs he owns (owns 130k share) half share with his brother to live with his wife, his wife owns a bigger house so it makes sence for them to live there, the problem is he is still paying a mortgage on his apartment as well as helping pay his wifes mortgage. both properties are in negative equity as they were bought at peak. my questions are, (1)If he lets out a room (say 300euro pm)in his half share apartment does he loose his interest relief as it is not his priciple residence (2) does the new tennant get a rental tax credit(3) if YES to the above is it not worth renting out the room or is there any other way around it.