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Found 2 results

  1. Hi! I own a BTL portfolio and I wish to gift a share with no money changing hands to my partner (we're currently unmarried) by a declaration of trust. The share of each individual property's mortgage consideration is less than £40k. I understand that this would not create any SDLT for her (but keen to hear that is correct). However, I'm unclear if this would be regarded as a 'linked transaction'. I have read that linked transactions are relevant for the simultaneous purchase of several properties from the same vendor, and could be treated as if they were all a single purchase (and hence attract SDLT). Does anybody know if this is the case? This seems clear for a case where it's being purchased but I am gifting it. Thanks!
  2. Hello Everyone! I have secured a property which is a cash buy and have subsequently got some interest from investors. I offer investors 8-10% on their money for the time that their money is in the deal. For this particular property, the timeframe would be around 8 months as we are buying with cash, refurbishing the property and then we will mortgage it at 75% market value to enable us to pull our money (investors money too) out. My intention is to purchase the property (£60k) with my funds (£40k) as well as the investors funds (£20k), but only my name goes on the title deed. We then set up a declaration of trust between us. When it comes to financing the property 6-8 months later (after the refurbishment) at £80k with a 75% mortgage, we can pull all of our money out. We then pay the investor back his £20k plus interest, and we walk away with the rest to reinvest. So my question is: Can anyone assist with any sort of documentation templates which I can use to set up all the necessary contracts and paperwork required between me and the investor? Ideally the contracts should cover death, insolvency, how security is held, interest payments, etc etc. Thank so much!
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