Rent or sell

Highlandhopeful

We are looking to a new future by buying a b&b business, & have been advised that the best way to raise the relevant funds through a broker is to rent out our property (not sell), & get my mother, who is retired, on DLA & CT rebate, to transfer the deeds for her house to me (only child) & then rent the property back to her. Is this the best way? We may also have to let our teenage daughter share the accomodation with my mother, would she be liable to rent? Your views & thoughts would be appreciated.

DannyboyMidlands

So the best way to fund your business is to rip off the taxpayer? You want me to pay your mums rent on a property that she owns?

You should be ashamed of yourself.

Highlandhopeful

Not ashamed but wanting clear guidance, best options. We don't wish to rip anyone off, just do the correct legal option!:T

BitterAndTwisted

There is so very much wrong with this scenario I don't know where to begin.

Highlandhopeful

That is why we are asking for advice. Do we sell, rent or forget the whole idea?:(

BitterAndTwisted

Sell your own property to buy this business. I can't believe that you could even consider putting the roof over your own mother's head at risk to do it. There are any number of reasons why this is a very, very bad idea.

theartfullodger

Disgraceful : And my personal experience of Highland folk is that they are decent & honest, largely.

Please feel free to take offence - we don't want that sort of behavior in our country.

Cheers!!

Artful

poppysarah

Highlandhopeful wrote: »

We are looking to a new future by buying a b&b business, & have been advised that the best way to raise the relevant funds through a broker is to rent out our property (not sell), & get my mother, who is retired, on DLA & CT rebate, to transfer the deeds for her house to me (only child) & then rent the property back to her. Is this the best way? We may also have to let our teenage daughter share the accomodation with my mother, would she be liable to rent? Your views & thoughts would be appreciated.

I would question the honesty and integrity of the person advising you to put your mother's home at risk.