We are thinking of buying a piece of land and eventually building a new home, but keeping our old home to rent out, maybe as a long term let or as a holiday let. The house is owned in mine and my husband personal names.We have no mortgage on the house.
We also have a handful of rental properties in an LAQC and one in mine and my husband's personal names.We have mortgages on the rental properties.
My question is, what would be the best structure to hold our old house under?
Also, it would be better if any new mortgage was taken out on our existing house so that interest payments could be claimed as expenses when the house is a rental.
My question is, does anyone know if the banks would lend in this way?
We also have a handful of rental properties in an LAQC and one in mine and my husband's personal names.We have mortgages on the rental properties.
My question is, what would be the best structure to hold our old house under?
Also, it would be better if any new mortgage was taken out on our existing house so that interest payments could be claimed as expenses when the house is a rental.
My question is, does anyone know if the banks would lend in this way?
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