How to handle sale-and-leaseback mess?
Chartered account with Friel Stafford Revenue. If you exercise the option to pay by monthly instalments, the first instalment is due and payable on the October 31 immediately after the valuation date — and interest must be paid with each instalment. The current rate of Revenue interest is 8pc. Revenue does allow longer payment terms in exceptional cases but would be unlikely to offer you a longer term, as it is not going to be your family home.
Depending on the rental earning capacity of the house, the rental income might be able to cover most of the monthly instalments to the Revenue. As the Revenue rate of interest is relatively high at 8pc, you would save money by borrowing from a bank, particularly if you could obtain a top-up mortgage on your existing home.
Properties in places such as Warsaw in Poland are becoming popular with Irish buyers again