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Help with Deposit from Family Member
cado1
Posts: 109 Forumite
Hi
Just looking at options in the hope of one day getting on the property ladder ! So came up with this scenario
My sister and her husband would lend me money as a deposit towards my first house say10%. I then raised the rest via mortgage or help to buy scheme. I then agree to pay my sister back at a later date an amount of 10% of the properties current value.
Is this doable ? would it put them in any sort of tax liable position ?
Thoughts please :-)
Just looking at options in the hope of one day getting on the property ladder ! So came up with this scenario
My sister and her husband would lend me money as a deposit towards my first house say10%. I then raised the rest via mortgage or help to buy scheme. I then agree to pay my sister back at a later date an amount of 10% of the properties current value.
Is this doable ? would it put them in any sort of tax liable position ?
Thoughts please :-)
Total Unsecured Debt at October 2018 £29,411
02/20 £ 6,374:j
02/20 £ 6,374:j
0
Comments
-
Tax? no.
Would your lender allow it? Probably not.0
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