We currently own a rental in our own names (property #1). After the current 12 month fixed term tenancy ends, we will rebuild on it and move it so it will become our family home. In the mean time, we are looking at buying a property (#2) that we will live in until property #1 is rebuilt, at which point #2 will be a rental, in the next 18-24 months.
With the ring fencing rule set to come in, is it worth buying property #2 using a LTC? We expect to make a loss in the first year or two after it is rented out, from there hopefully it'll be cash positive. We have plans to buy more if the right property comes up, but unlikely for a couple of years, until our new family home is built.
With the ring fencing rule set to come in, is it worth buying property #2 using a LTC? We expect to make a loss in the first year or two after it is rented out, from there hopefully it'll be cash positive. We have plans to buy more if the right property comes up, but unlikely for a couple of years, until our new family home is built.
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