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First time Mortgage & Trust structure
just4kix
Posts: 3 Newbie
Hi,
My partner and I are looking to purchase our first property and looking to place it in a trust (for asset protection, inheritance tax benefits etc). Borrowing was not an issue until I mentioned this. I'm told by the broker we have engaged that they have had troubles in the past with this and that the high street lenders will not advocate this setup and that the property must be in my or our personal names. I'm on the assumption that this may be the case with others (we are yet to try).
Are we the only ones in the UK that wish to use this setup? I am a bit confused as to the existence of these legal entities yet in 2013 it is a left of centre request. What do we need to do?
Thanks
My partner and I are looking to purchase our first property and looking to place it in a trust (for asset protection, inheritance tax benefits etc). Borrowing was not an issue until I mentioned this. I'm told by the broker we have engaged that they have had troubles in the past with this and that the high street lenders will not advocate this setup and that the property must be in my or our personal names. I'm on the assumption that this may be the case with others (we are yet to try).
Are we the only ones in the UK that wish to use this setup? I am a bit confused as to the existence of these legal entities yet in 2013 it is a left of centre request. What do we need to do?
Thanks
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