mortgage help

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chefcorm

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Hi I am currently working at the moment and i have a approved mortgage of up to 250k max as a first time buyer. Im currently looking at a apartment in the city centre for around 200k, I want to live in this apartment for a few months then i plan to move to france permantly, and i want to rent it out while im gone. Now ive heard that im not meant to rent it out until 2 years after purchase i believe. I just need advice in what you think i should do if i want to rent it out and live in another country. Should i send all my post there or what should i do, How could I get caught doing this etc...Cheers your help would be appreciated....
 
There is one way the be 100% sure you won't be caught.


Pay your taxes like the rest of us.
 
well i agree with the other posters.

But if you were to do this you would be very silly to think that you could get away with it. Just a few examples you have to register when you rent out the house, what happens if your tennent loses their job and wants to claim rent allowance. Things can happen and what ever does they will figure out what you have done and claiming ignorance isn't an excuse ( even though you know very well what you are doing ) Not only will you have to pay the stamp duty and taxes they might also backdate and add interest to what you owe them.

Why are you even thinking of buying a property if you are moving away.

At the end of the day if you wish to take the chance then thats up to you, no one here can tell you otherwise but you are going to be ignored in your asking for help or have a lot of angry people giving out.

Not the most intelligent thing to do in asking how to commit fraud especially in these times.
 
chefcorm said:
Now ive heard that im not meant to rent it out until 2 years after purchase i believe. I just need advice in what you think i should do if i want to rent it out and live in another country.
Click to expand...

You're prefectly entitled to rent out your property within months of buying it. You just have to pay the Stamp Duty and then declare your rental income to Revenue. The Stamp Duty won't be huge on a €200,000 property and if you've a mortgage, you can write off the interest against rent before calculating tax so the tax on rent may not be huge either.

Far better to do this and save yourself worrying about getting caught.
 
Thank you LDFerguson for your help. Thats the questions i needed answering. Im not here to defraud the state...
 
then why did you say "How could I get caught doing this etc..."

If you planned on paying the stamp duty and taxes you wouldn't need to worry about being caught!!
 
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