International Mortgages

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Mar 10th 2015, 12:13 pm

#16

Mogs

BE Enthusiast

Joined: Jun 2010

Location: Dubai

Posts: 585

Re: International Mortgages

Quote:

Originally Posted by Scamp

This is what I also assume, but will have to be told properly by someone who knows their onions before I get too excited.

It makes a big difference on any rent up to 833 a month.

I haven't paid tax for the past 8 years. I have been renting at less than 833 per month every month since I've been out the UK. Although as I'm married, we actually have a 20,000 limit (mortgage is in both our names).

Mar 10th 2015, 1:04 pm

#17

Meow

Bored liberal

Joined: Feb 2007

Location: Over there ----->

Posts: 13,713

Re: International Mortgages

Quote:

Originally Posted by Mogs

Presumably you would still be entitled to your 10,000 p.a. tax free allowance though and only have to pay tax on anything above that amount ?

Currently yes, but there is talk of the personal allowance being removed or reduced for expats. It was a small paragraph in the 2014 budget but I wouldn't be surprised if that was followed up.

The CGT changes also make property investment less advantageous for expats.

Property is not a magic investment solution...

Mar 11th 2015, 5:36 pm

#18

Johnnyboy11

Onwards and Upwards!

Joined: Sep 2010

Posts: 884

Johnnyboy11 has a reputation beyond repute

Re: International Mortgages

Quote:

Originally Posted by mentalist

Thanks MH but I am waiting for Johnnyboy to put his money where his mouth is, so to speak.

Well, you could start your research here, so to speak.

Or you could go the BTL route with a 'true yield' of <4%, without factoring in the risk of a property crash (e.g. Since the 2007 financial crisis, many parts of the UK are still underwater in nominal terms, let alone real terms, my family home in Scotland included).

Last edited by Johnnyboy11; Mar 11th 2015 at 5:44 pm.