Two family properties in my name, need to buy own home - tax/mortgage implications?!

Mojisola

Star99 wrote: »

My mum signed something at home I know that. I can't recall signing anything though.

You can't buy a house or get a mortgage without signing paperwork.

If your brother has been forging your signature, you should seriously consider reporting this to the police.

Star99_2

RAS wrote: »

OP

In order for a solicitor to act on your behalf in any transaction that involves money or property transfer, the lawyer has to do a full identity check to prevent money laundering. The solicitor would have to see you and your passport at the same time.

Did that happen?

For the sale of my mothers house, no, I didn't see a solicitor.
But my brothers were given my passport and driving licence.

For the sale of my brothers flat, he took me to see a solicitor just the once.

Star99_2

Mojisola wrote: »

You can't buy a house or get a mortgage without signing paperwork.

If your brother has been forging your signature, you should seriously consider reporting this to the police.

For the sale of my mums house to me, I don't remember signing anything, but logic says I must have for the sale to go through?
I don't think my brothers would have had any reason to do anything "dodgy" when arranging the sale of my mothers house as they wouldn't have anything to gain from doing so.

But the flat is obviously a different matter.

Star99_2

I just want to get out of this mess. Can I just ring HMRC and tell them what's happened with the properties and who the real owners are etc?
I don't see why my records should show me making profit on a property sale and receiving rental income when none of this is true?

RAS

Star99 wrote: »

I'm currently home alone. My husband is at work and doesn't finish until 10pm. And isn't the threshold for tax credit 26k, and not 17k?

Ok

I just had a play with a tax credit calculator and a couple over 25 with one child aged 15 months and an income of £25K last year would still get some tax credits this year..

Mojisola

Star99 wrote: »

I just want to get out of this mess. Can I just ring HMRC and tell them what's happened with the properties and who the real owners are etc?
I don't see why my records should show me making profit on a property sale and receiving rental income when none of this is true?

Get all the paperwork from your brother and the relevant solicitors and the Land Registry and then see a different solicitor before contacting any government departments.

You could be in serious trouble - get legal advice first!

Star99_2

RAS wrote: »

Ok

I just had a play with a tax credit calculator and a couple over 25 with one child aged 15 months and an income of £25K last year would still get some tax credits this year..

So my brother lied to me to make me believe the rental income wouldn't have made any difference.
I can't believe my own brother could put me in this situation just for his own selfish gains.

RAS

Star99 wrote: »

I don't think my brothers would have had any reason to do anything "dodgy" when arranging the sale of my mothers house as they wouldn't have anything to gain from doing so.

Star99 wrote: »

20k was used to fund two family weddings. The remaining 15-20k I believe my mum still has. She advised me she and my brother 2 would pay forthe mortgage as they would both be living in that house.

So your mother owned a house outright which was put into hock to fund weddings.

You are put into hock for a not inconsiderable amount ( a lot more than your wedding cost??) and are still paying the mortgage. Your mother loses the ownership of the house and your brother gains a property with no outlay?

Mum has been shafted. So have you.

Star99_2

Mojisola wrote: »

Get all the paperwork from your brother and the relevant solicitors and the Land Registry and then see a different solicitor before contacting any government departments.

You could be in serious trouble - get legal advice first!

Yes, i think that's what I need to do. Cos I'm going out of my mind with worry. Plus it's affecting my marriage as we cannot move out of my mother in laws home just yet home as we cannot get afford a mortgage solely on his income.
Plus if I don't go back to work after maternity leave or only do part time, we can't apply for any help (i.e. tax credit) because it will appear I own two homes and I'm receiving income on one of them when I own nothing really and I'm receiving nada.

Mojisola

Star99 wrote: »

Yes, i think that's what I need to do. Cos I'm going out of my mind with worry. Plus it's affecting my marriage as we cannot move out of my mother in laws home just yet home as we cannot get afford a mortgage solely on his income.
Plus if I don't go back to work after maternity leave or only do part time, we can't apply for any help (i.e. tax credit) because it will appear I own two homes and I'm receiving income on one of them when I own nothing really and I'm receiving nada.

It's worse than that because you probably also owe tax - on the money your brother has been taking from the tenants.