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Showing results for tags 'morgage'.
My Father recently passed away and has left his 6 BTL properties to my Mum. Some of these are unencumbered and others have high interest rates. We would like to transfer these to mine and my Brother's company and pay my Mum a wage from the rent. With the obvious cost of CGT and Stamp Duty will we have to purchase the properties? If so can she 'gift' us the deposit without physically transferring us the money i.e. buying the property at a 25% discount? I'm on the waiting list for Property Hub Tax but if anyone has some useful advise I'd greatly appreciate it. Thanks Laurie
Hey all, Having experienced so much great advice here I wondered if people may have some advice which is actually for my parents. They are downsizing, they have just had an offer accepted on a bungalow (£370K) but have yet to put their current house on the market. They basically have 3 options as far as I can see for funding this purchase, but I wanted to see what those of you who know far more than me might think of doing. First, the current house they have has no mortgage and would likely sell between 650-700K. They still have an income of over £70K per year and a number of savings
Hello Everyone, I am the midst of my strategy formation before jumping into my next property venture. I had a question regarding the finer details of refinancing options... I imagine the general advice may be "speak to your tax accountant / mortage broker", which ultimately is the plan - I'm just trying to get vaguely informed before I enter that discussion. I am aware that this has turned into a bit of a lengthy post... any help or advice would be fantastic! Quick Background: I currently live in a 2 bed flat which I have renovated and own outright. The second ro
Hi , looking for advice . I am about to buy my first buy to let property I have three choices of interest rate . 1/ 2.73% with an arrangement fee £1995 making monthly payment £234.88 2/ 2.89% with an arrangement fee of £ 995 making a monthly payment of £246.24 3/ 3.05% with no arrangement fee making a monthly payment of £257.34 As an arrangement fee can be offset against tax is it better for me to pay that upfront ,offsetting it this tax year and earning more profit ,or am I better to go for the overall cheaper option number 3? I am just starting to