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Buying a home for my mother
Baggo81
Posts: 1 Newbie
Hi,
My wife and I are considering buying a home for my mother. We have our own mortgage for the house we live in and would be getting another mortgage to pay for a house/flat for my mother to live in.
The arrangement discussed would be for her to pay the deposit and we would take a mortgage out to pay the remaining. She would live there rent free and would pay all the bills.
We're a bit worried about any tax implications that we may be unaware of. We are looking for any advice with regards to pitfalls we may be overlooking. We are quite new to all of this so any help or advice would be greatly appreciated.
Thank you
My wife and I are considering buying a home for my mother. We have our own mortgage for the house we live in and would be getting another mortgage to pay for a house/flat for my mother to live in.
The arrangement discussed would be for her to pay the deposit and we would take a mortgage out to pay the remaining. She would live there rent free and would pay all the bills.
We're a bit worried about any tax implications that we may be unaware of. We are looking for any advice with regards to pitfalls we may be overlooking. We are quite new to all of this so any help or advice would be greatly appreciated.
Thank you
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