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What are my options please?!
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SavingSteve wrote: »Could you buy it with combined funds? Do your parents have enough cash to pay for the other 50%? Or would they need to take out a mortgage? If the latter they'll need to declare why, and not sure many lenders would be keen on a mortgage to gift money to their offspring (not sure though) and they'd need to pass affordability checks on that remortgage.
Regardless of LTV you will not get a mortgage on Gambling income. Just not going to happen.
If you can jointly buy it outright can you not just have a legally drawn up loan between you and your parents whereby you repay them instead of the bank? They'd of course need to pay tax on this income.
Also, there is no CGT to pay if you gift a property per my earlier suggestion, as they've made no money, its a give away for zero, thus no gain to tax.
My suggestion earlier also. No tax if no interest on the payments.0
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