Hi
I did attempt to search and find an answer on this forum but not to much luck.
My wife and I are planning our first investment in a rental property. We do own and live in a home with over 30 % equity in it.
We have secured 100% finance in the rental property. We are both taxed at 39% and have similar incomes.. (80k each).
My job is insecure and may trip up in a years time ?? ,
My question is around LAQC or without one..
should we go for a LAQC set up or just do it (buy and own the rental property) on our own names.
If I loose my job we may have to sell the rental property as currently one persons full wage is financing our current home.
All suggestions would be much appreciated. I have an appointment to meet a reputable accountant tomorrow but any insight would be much appreciated.
Thanks in advance
Regards
Vijo
I did attempt to search and find an answer on this forum but not to much luck.
My wife and I are planning our first investment in a rental property. We do own and live in a home with over 30 % equity in it.
We have secured 100% finance in the rental property. We are both taxed at 39% and have similar incomes.. (80k each).
My job is insecure and may trip up in a years time ?? ,
My question is around LAQC or without one..
should we go for a LAQC set up or just do it (buy and own the rental property) on our own names.
If I loose my job we may have to sell the rental property as currently one persons full wage is financing our current home.
All suggestions would be much appreciated. I have an appointment to meet a reputable accountant tomorrow but any insight would be much appreciated.
Thanks in advance
Regards
Vijo
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