A little assistance for a newbie
Jul 5th 2007, 7:00 am
#31
Mr. Grumpy
Joined: Jun 2003
Location: Nashville, TN
Posts: 3,100
Re: A little assistance for a newbie
A few things I know, since we have a rental. In the US you can deduct the mortgage interest on a 1st and 2nd home, but not on a 3rd.
Homeowner's insurance is a little lower on a rental home, because you are only insuring the structure, and not the contents.
Yes, mortgage interest will be slightly higher on a nonprimary residence, and normally you would have to put down 20 percent.
In the UK the renter usually pays the council tax. In the US the owner pays the prop tax, but then it's usually included in the rent.
Homeowner's insurance is a little lower on a rental home, because you are only insuring the structure, and not the contents.
Yes, mortgage interest will be slightly higher on a nonprimary residence, and normally you would have to put down 20 percent.
In the UK the renter usually pays the council tax. In the US the owner pays the prop tax, but then it's usually included in the rent.
if you have decent credit - factor in paying about 7.5% on a non-owner occupied property. if its a residential investment mortgage than factor in private mortgage insurance if you are putting less than 20% down....
Jul 5th 2007, 8:45 am
#32
Just Joined
Joined: Jul 2007
Location: Scotland
Posts: 7
Re: A little assistance for a newbie
Welcome to BE, and for offering to help, but read the site rules so that you don't fall foul of spamming 
http://britishexpats.com/site-rules/
http://britishexpats.com/site-rules/
Jul 5th 2007, 9:16 am
#33
BE Forum Addict
Joined: Nov 2005
Posts: 1,397
Re: A little assistance for a newbie
Double whammy atm, the dollars sick as Snowbunny reports and the UK interest rate hikes are strengthening the pound yet more. Neither influence looks like its going to change any time soon.
Jul 5th 2007, 9:45 am
#34
Lapine Member
Joined: Nov 2004
Location: Austin, Texas in my own little world
Posts: 21,691
Jul 5th 2007, 10:46 am
#36
Account Closed
Joined: Sep 2005
Posts: 15,455
Re: A little assistance for a newbie
just to clarify - you can deduct mortgage interest on as many rental properties as you like....
if you have decent credit - factor in paying about 7.5% on a non-owner occupied property. if its a residential investment mortgage than factor in private mortgage insurance if you are putting less than 20% down....
if you have decent credit - factor in paying about 7.5% on a non-owner occupied property. if its a residential investment mortgage than factor in private mortgage insurance if you are putting less than 20% down....
Jul 5th 2007, 11:20 am
#37
Lapine Member
Joined: Nov 2004
Location: Austin, Texas in my own little world
Posts: 21,691
Jul 5th 2007, 11:13 pm
#40
BE Forum Addict
Joined: Mar 2004
Location: Chicago, Il
Posts: 1,320
Re: A little assistance for a newbie
I'd be interested to know which developer it is too.. Pandemic are not highly regarded... esp for noobs.
to the OP - there are several of us (game developers that is) on here... Bob, me, Drebin, and a few Game Dev Spouses too (snorkmaiden)...
to the OP - there are several of us (game developers that is) on here... Bob, me, Drebin, and a few Game Dev Spouses too (snorkmaiden)...
Jul 6th 2007, 5:36 am
#41
Just Joined
Thread Starter
Joined: Jun 2007
Location: Westwood Village, LA, CA, USA
Posts: 9
Re: A little assistance for a newbie
Hello,
I work for Pandemic. Oh dear!
Are any of you who are in the games industry on linked in?
If so could I add/invite you?
I am awaiting membershop at TCE.
I'll probably ask all my games industry in the US questions there or through linkedIn.
Thanks Again.
I work for Pandemic. Oh dear!
Are any of you who are in the games industry on linked in?
If so could I add/invite you?
I am awaiting membershop at TCE.
I'll probably ask all my games industry in the US questions there or through linkedIn.
Thanks Again.
Jul 6th 2007, 5:45 am
#42
BE Site Lead
Joined: Aug 2004
Location: MA, USA
Posts: 92,176
Re: A little assistance for a newbie
Jul 6th 2007, 12:55 pm
#44
Just Joined
Thread Starter
Joined: Jun 2007
Location: Westwood Village, LA, CA, USA
Posts: 9
Re: A little assistance for a newbie
I've only been waiting two days.
Perhaps I should re-apply with a refence
Got the PM, cheers.
Perhaps I should re-apply with a refence
Got the PM, cheers.
