Selling house to son

Reymax

My son is recently engaged and we are soon to move (2 yrs) and want to sell our current flat interest free, but to the amount our home is worth. An interest free mortgage type payments to us. How do we do this and to legally make sure payments are paid to us?

fairy_lights

It's not very clear what you are asking.
You want to sell your house to your son for the full market value, but instead of him taking out a mortgage he will make regular payments directly to you? But you're not doing this for another two years yet?

G_M

So you are loaning son some money (say £200K) which he immediately uses to pay you £200K for the property? (ie no actual cash changes hands).

Draw up an agreement for the loan of the money which states when/how he will repay it, and whether interest will be paid as well.

Place a Charge on the property (ie a mortgage) in your name. That means he will not be able to sell without repaying you first (no skipping off to the Bahamas with your cash).

If he pays interest on the loan, you need to declare it as income for tax purposes.

Use a solicitor.