You will not be liable for any clawback of SD here since you will be renting it out more than two (was five) years since purchase.We have been in Ashbourne for 5 years
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We will be renting the first home at 1200pcm
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Is there anything i can look out for to reduce cost of stamp duty, clawback?
Are you sure that borrowing (even at mortgage rates) to invest is a good idea?looking to invest about 5-8k.
On what? The new purchase? What are the details?Is there anything i can look out for to reduce cost of stamp duty,
Are you sure that borrowing (even at mortgage rates) to invest is a good idea?
Are you sure you'd get €1200pm in Ashbourne for a 2 bed house, I'd reckon that seems high??
speaking to a number of estate agency's in Ashbourne we can rent our place in about 3 weeks tops. Reason for 1200 pm is the inclusion of Sky basic and broadband...
We did same 2 years ago - rented out family home in Churchtown, bought in Wexford. Important consideration is that we let the house unfurnished, to a family for a minimum 2 year period - we also have a formal Rental Agreement Contract. No experts required - we do own tax, very little management required on property (Management companies tend to take 1 months rent for very little return in my experience). There can be hidden costs, mainly maintenance of kitchen gadgets, plumbing etc. however with a long-stay tenant they tend to look after this stuff. So, my advice is go for the rental/purchase process but I don't think you should borrow at mortgage rates for anything other than property. Also, be ready for the time when your rental property is vacant - that's a big dip in income. Good luck.
DURATION OF TENANCY NOTICE PERIOD1 year or more but less than 2 years 42 days
Less than 6 months 28 days
6 or more months but less than 1 year 35 days
186.—(1) This section has effect—
(a) despite the fact that the tenancy concerned is one for a fixed period, and
(b) despite anything to the contrary in the lease or tenancy agreement concerned.
(2) If a landlord of a dwelling refuses his or her consent to an assignment or sub-letting of the tenancy concerned by the tenant, the tenant may serve a notice of termination in respect of the tenancy and terminate it accordingly.
(3) The period of notice to be given by that notice of termination is—
(a) that specified in section 66 , or
(b) such lesser period of notice as may be agreed between the landlord and the tenant in accordance with section 69 ,
even if the lease or tenancy agreement provides for a greater period of notice to be given.
AFAIK, all the tenant has to do is to request to transfer the lease to another party. The landlord is then left with a choice of either allow the lease to be transferred to another party that s/he has no say over or to refuse the request to transfer. If the landlord refuses the request to transfer the lease, then the tenant may issue a termination notice.
The tenant can simply walk out the door....
If they just walk out the door, I believe the landlord would have a right to pursue the tenant for the rent for the remaining period of the lease.
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