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Renting to family - slightly complicated
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Someone mentioned to me that if the private mortgage is secured, a credit consumer license may be required. Is this true?0
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luckyrunsofar wrote: »Someone mentioned to me that if the private mortgage is secured, a credit consumer license may be required. Is this true?
You are performing a complex legal transaction with many variables - do you not think you should be consulting a solicitor - rather than hearsay or replies from a website forum- where you do not know the people from Adam
Either way you will need a 'deed of trust' - which will need to be looked at by a separate solicitor other than the one who drew it up - otherwise it could be challenged at a later date.
Simple solution consult a trusted or recommended solicitor - may save you thousands in the long run...0
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