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M4rk1
M4rkl
Posts: 1 Newbie
Hi there,
My parents are selling their property and relocating to be near myself and my wife. The difference in property prices means that we will contribute to the cost of the new property and will get that investment back when it is eventually sold.
We are not buying to let but simply helping our parents relocate. As we will be joint owners (our parents having the larger %), is it seen as a 2nd property and are we liable under the new stamp duty rules?
Thanks in advance for any help. M4rk1.
My parents are selling their property and relocating to be near myself and my wife. The difference in property prices means that we will contribute to the cost of the new property and will get that investment back when it is eventually sold.
We are not buying to let but simply helping our parents relocate. As we will be joint owners (our parents having the larger %), is it seen as a 2nd property and are we liable under the new stamp duty rules?
Thanks in advance for any help. M4rk1.
0
Comments
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OP, I suggest you edit this post to make the title relevant to your situation. You will get more responses.There is more to life than increasing its speed.0
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Yes you'll be liable for the additional SDLT and you're also setting yourself up for CGT in the future.
Alternatively you could lend the money to your parents, they buy the property in their names only, and you have a charge put against the property. (This is assuming no mortgage is required.)0 -
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