I
Ian McGuffin
Guest
My wife and I are in our early forties, childless and (intending to stay that way) mortgageless. Our property has a market value of approx 230k. We are both working and earn approx 46k pa in total together. We are thinking of our future in relation to our retirement. We have thought about buying a second property but it's a lot of hassle and in the end it's only the banks that make money. Is there anything we can invest approx 12k pa in that we will get a better return on that property or is a second property the way to go? The danger of the second property and taking out a new mortgage is that if the current property isn't always rented we would be strapped from time to time
financially. At the moment we would be able to get approx 700pm to rent the property. What are the tax implications re a second property?
financially. At the moment we would be able to get approx 700pm to rent the property. What are the tax implications re a second property?