Can I give my house to my brother?

Gorgeous_George

Can I give my house to my brother?

You just want him to suffer the losses of a falling market. Clever.

GG

RabbitMad

if its a private deal what have you got thats so valuable? What if this other guy goes bankrupt in the next 6 years, will the receivers look at your deal conclude it was done at below market price and reverse it? Why won't he let you keep your house as part of the bargin?

Is he planning on buying a chunk of your existing garden and doesn't want you as his neighbour?

kiden

Generali - i've thought about the stamp duty yes, but thanks

SquatNow - oo, i didn't know that. hmmm.. i'll have to add that to the list of cons definitely - he's very good with money, but you just never know what might come up that would force him into debt

Gorgeous George - aw! i wouldn't do that to my brother! if at any point looked like it was going wrong for him, i'd start to reverse everything (i can get out of the house part of my deal at any time). i'm trying to make sure it's not going to put him out of pocket in any way (that's higher on my priorities than putting myself out of pocket) - hence this posting. i doubt i could promise this would be risk-free for him, but then i'd offer him some potential benefit for taking that risk, i.e. make it an investment for him too somehow

RabbitMad - the deal they're proposing reduces my mortgage payments, not the price of the house - they wouldn't be directly involved in either the purchase or the payments, so i think i'd be ok on that front. and lol at the neighbour comment - i think i'm quite a good neighbour as it goes!

for now i think i'm going to look at the limited company option cus then it's only me involved.

thanks guys for all your comments and points of view on this