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Second home with shared ownership
tbec407
Posts: 1 Newbie
Hi
I am a house owner 50 years of age with no mortgage, considering remortgaging my current property ( 30% of my its value ) to raise money to buy a 40% share in second property, the other 60% will be funded and owned by my parents.
It will all be legally documented, I'm just wondering if there are any tax implications or any other things to consider even though I will not be making any income or profit from the second property ?
Thanks in advance
I am a house owner 50 years of age with no mortgage, considering remortgaging my current property ( 30% of my its value ) to raise money to buy a 40% share in second property, the other 60% will be funded and owned by my parents.
It will all be legally documented, I'm just wondering if there are any tax implications or any other things to consider even though I will not be making any income or profit from the second property ?
Thanks in advance
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