Quick Background: - 26 years old, single, full time job (~£20k) - 3 bed (just) in Bristol UK outskirts, cost around £200k - Currently live there and rent the other 2 rooms for friends for £600pcm in total (under £7500 per year so no tax to pay on it). Really enjoying living with friends. - Parents both received inheritance from grandparents and used this money
Had a thought on maybe getting a mortgage to free up the money and buying something like a small flat to rent out with it. Not sure if there are any potential tax pitfalls with this being that the money was originally gifted to buy a house?
Just woundering if anyone has any advice or better ideas? Bit scared to do anything
Submitted March 24, 2019 at 12:33PM by rabbits726 https://ift.tt/2TuVcSS
