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pay cash for a house or take out a mortgage?
Comments
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Some good points here to think about.I am not getting this ...
1. Your niece and her husband don't want to owe anyone any money for religious reasons. So they will rent a house off her parents. If that is the case then the rent is liable for income tax.
OR
2. Your niece and her husband don't want to owe anyone any money for religious reasons. Her parents loan them the full amount to buy a house, and the kids pay the loan back in installments. No income tax due BUT the kids owe someone money?
So what happens if the children are unable to pay the money back - multiple birth, redundancy, accident or illness? Do they claim housing benefit for their rent?0
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