Originally Posted by donkey
13% tax? It's 7%, and whether or not you pay a deposit depends entirely on the owner.
I think that the 20% applies to an 80% mortgage, if someone knows something that we don't and is willing to tell then I'm willing to listen.
My wife and I have looked at property purchase in Spain only to come to the conclusion that a £200,000 property can be rented for around £450.00 per month between October and the end of March subject to a minimum let of 4 weeks. The only extra cost is electricity, some are equiped with sky boxes so you simply take your own card.
£200,000 invested will give around £10,000 gross interest so even if you went for the full 5 months you would be well in pocket and still have your £200,000. And remember, no maintainence, rates, repairs etc and if you tire of it you don't rent it again.
A no brainer isn't it.