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Hi, My mother has a mortgage free rental property worth 200k, that she would like to gift to me. I have a rental property worth 250k. My wife has a rental property worth 350k. Our income combined with the income from these properties fall within the basic tax rate. I plan to buy further investment properties in the future, therefore created a Ltd company seems the best way forward. (If only I’d started listening to The Property Podcast when we first started investing). Is it possible for my mother to gift this property to my Ltd company? Or sell it to the company for
Hi all, I have a slightly convoluted purchase plan of my mums home but I am unsure about the logistics of it. My intention is purchase the house for the remaining mortgage debt and then have her continue pay what shes paying now. the reason for the purchase is to remove my mums ex partner from the mortgage as he is a sneaky fellow. The remaining debt is approx £80k and the value of the property is a approx £160k. I have several questions about how this would work in principal; 1. What would the CGT implications be if the house was purchased for £80k (meaning
Hello, I am currently renting with my partner and we would like to get our first house together but we are far from a reasonable deposit. My parents have paid off their mortgage and I expect their house to have increased a lot in value since they purchased it. Is there any way we can use equity from their house as a deposit for ours? If so will we later be able to use equity from our new house to buy an investment property? I have only just started learning about the industry so please excuse any naivety. All suggestions appreciated. Matt