Excuse me if this post is a bit long winded but I'd like to know if anyone has information on this.
I'm looking to sell a property I have let out and probably will only break-even on it. A bad buy during the boom 10 years ago, which I have been making repayments on the mortgage each month without fail. I will also check if it is possible to hold onto this property as it will pay a small pension when I'm in my in my early 50s!
I'm looking to buy another property as my PPR with the aid of an Employer Loan to help me save time in getting the deposit together. I'm wondering what are the tax implications for me on this type of loan? The loan would be virtually interest free.
Will the lenders hold this Preferential Employers Loan against me when calculating how much I can borrow?
I am one of the first time buyers who bought in the boom and could not settle in the location, stuck with the property as I could not sell as negative equity hit hard. Rented out that property and ended up renting a property myself closer to family & friends.
I'm looking to sell a property I have let out and probably will only break-even on it. A bad buy during the boom 10 years ago, which I have been making repayments on the mortgage each month without fail. I will also check if it is possible to hold onto this property as it will pay a small pension when I'm in my in my early 50s!
I'm looking to buy another property as my PPR with the aid of an Employer Loan to help me save time in getting the deposit together. I'm wondering what are the tax implications for me on this type of loan? The loan would be virtually interest free.
Will the lenders hold this Preferential Employers Loan against me when calculating how much I can borrow?
I am one of the first time buyers who bought in the boom and could not settle in the location, stuck with the property as I could not sell as negative equity hit hard. Rented out that property and ended up renting a property myself closer to family & friends.