Associate
- Joined
- 5 Jan 2003
- Posts
- 441
I am completely new to the area of purchasing property and the legislation behind it. However me and my bro are thinking about investing the money we inherited rather than letting it depreciate in the bank.
We can either buy:
a 1 bedroom flat each
or 2 bedroom flat/house and a 1 bedroom flat sharing the property and the small mortgage between us.
However I understand you have to pay capital gains when you sell a second property. Would the fact I technically have two halves of two properties just make it one...or would the Inland Revenue sting me
While we are both at Uni we are likely not to be living in either of them and they would be let out. I’m not sure if this would change it as well.
Thanks for any help suggestions
Reg
We can either buy:
a 1 bedroom flat each
or 2 bedroom flat/house and a 1 bedroom flat sharing the property and the small mortgage between us.
However I understand you have to pay capital gains when you sell a second property. Would the fact I technically have two halves of two properties just make it one...or would the Inland Revenue sting me
While we are both at Uni we are likely not to be living in either of them and they would be let out. I’m not sure if this would change it as well.
Thanks for any help suggestions
Reg