can anyone help i have helped a friend with money and now i'm in trouble

lynzpower

There is always the opportutunity of suiing your freind for broken verbal contract. Im not sure how successful you will be, but its worth thinking about.

You need to see a solicitor asap. Maybe you can get a no win no fee one

Really sorry to hear of your situation, and I wish you all the luck in the world with it x

nrsql

>> i guess and her solictor would surly look at me for recourse.
Not sure they would have a case - you should get advice about it.

From your point of view you are giving her money every month - the fact that the mortgage payments are £150 more than they could be is less important than that you could be getting nothing in return.

From her point of view she needs somewhere to live. If she gifts you the house then she would be very insecure.

I suspect that if she gives you the house then you would be liable for capital gains tax.

Another thought - when does her mortgage have to be paid off?

pleasehelp123uk

she does need some where to live and she could live there rent free for life no problem, after all lets remember she was going to sign the house away before i stepped in "oh i wish i had not"
no set date on paying off her morgage.
capital gains i would be buying the house from her at under market value to pay off her current morgage so it would not be a gift "so capital gains i would have to check i guess" but i dont think that would come into it i hope.

plane_boy2000

I dont think you can buy the house back at less than market value as this could be interpreted as tax evasion both in the case of stamp duty and capital gains.