Buying for children (perhaps)

[Kieron Garlic]

Hi there,

 

I have a good one to get the hive mind thinking.

 

I potentially want to buy a house for my child.  This isn't an IHT dodge or anything like that.  It's actually just for personal reasons.  She's a minor and would live in the house with her mother.

 

In fact, my daughter doesn't even have to own it. She just has to live there with her mother. 

 

I'm trying to work out the most cost effective way (in the short / medium term) to make that work.  Long term is probably less of an issue because it would be her main residence.

 

I could buy it for her but she's too young to own it legally.  And if it's in a trust, how does it work because I'll be paying the mortgage.  It would have to be fairly heavily leveraged.

 

I can put it in a trust but seems overly complicated.  If I own it myself, I'll have to pay the additional Stamp and they pay CGT when she takes it.

 

Thoughts?

 

Kieron

[Debbie Franklin]

sorry only just seen it 

you could do a bare trust which is straight forward 

she would not ever be a first time buyer in future though for stamp duty