Forum Replies Created
- Terryw wrote:The trouble with this is 1. The parents would pay CGT on any increase. 2. You have not used your CGT main residence exemption. If property was in your name it could be CGT exempt. 3. Parents could change mind 4. Parents could go bankrupt 5. You could divorce etc etc
What if you just borrowed a deposit from the parents?
This would be my ideal situation however they kind of wanted a small return out of it if they could however their number once motive is to help us out. It was also going to be there 'entry' to the investment property market as they are not massive risk takers… scared other rents wouldn't pay, damage the property etc
Additionally they would also help out with repayments as they would pay 100-150 per week to cover the difference in what we could afford for rent and the mortgage repayments. this would be a massive help as my partner is still at Uni for another 2 years (working part time at the moment).
Thanks for your help
Thanks Richard
Sorry let me clarify.
Parents will purchase an investment property in their name (they can definitely service the loan themselves) myself and my partner will live in that home and pay 'rent'.
When the house sells the parents will hand over 70% of the profits for us to use as a deposit for our own house.
Basically I want to know what the best option is for parents to help their children enter the property market.
