I purchased a house in October 2001 which is my sole residence.
I recently got married and have now gone halves on a mortgage with my husband to purchase a property near his workplace - however the property is in his name. I would ideally like to hold on to my house I purchased in October 2001 but I fear the tax clawback on Stamp Duty etc will be too much and the hassle of renting it / declaring it for rent investment would be too much - Can anyone advise me or point me in the direction of someone specialising in these types of situations ?
Would you not just hold onto it, and leave it vacant, until you can rent it out in Oct 2006 ?
Other option is to get a family member into it, and get them to rent out rooms under the "Rent a room" threshold.
Bloody Bacon report really screwed up the market: imagine having to leave a perfectly good home vacant while people are scrambling for affordable accomodation out there.