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Buying an investment property

awhite6889
awhite6889 Posts: 28 Forumite
Fifth Anniversary 10 Posts
in House buying, renting & selling
I have a business which has some properties in its portfolio as well as other investments. My mum is getting unwell and cannot get up the stairs in her current house and is restricted to buy another property by the value of her house. Legally, am I able to buy a house with my investment company and let her live in it rent free?

Thanks

Comments

  • Linton
    Linton Posts: 18,216 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Hung up my suit!
    I cannot see why legally there would be problems. But whether it is a good idea would be worth considering in detail. There may be unintended consequences.


    The main issue I see is loss of security. What happens if you die or for some other reason your assets need to be realised? Does Mum lose her home?


    What is proposed should happen to the old house?


    I believe you providing the house rent free will prevent your company offsetting any expenses against income from your other properties.
  • PhilE
    PhilE Posts: 566 Forumite
    Mate, sounds like your loaded. Get professional advice on this.

    Hope your Mum is doing ok.
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