Buying / Selling Gift and or Loan

emailuser

Hi , any advise would be gratefully received, I am planning to talk to an IFA next week , but would like to be informed as much as possible,  me and my wife are currently looking to purchase a house, where me, my wife and her mother will all live together, to fund the purchase we will be selling our house, plus my mother in law will be selling her house. The proceeds from both houses and a small mortgage me and my wife which we will take out will be used to fund the purchase.  In order to maximise timing -- brother in law is willing to gift /loan the capital of the house to us so we can go ahead with purchase right away  , then repay once we have sold the 2 houses

House price is £600k -  Brother in Law will  gift of £250k and loan of £250k to me and my wife, we will take a £100k mortgage to cover the rest – family loan agreement will be drawn up to repay £250k on sale of our house back to Brother in Law  and once mother in law house is sold (£150k) she will gift the money to us and we will gift it back to brother in law , to repay £150k or the £250k gift.

We will draw up a deed of trust indicating each parties % ownership covering me/wife , Mother in law and brother in law

We know that inheritance tax will still be lurking should anyone die

Are there any other legal considerations we should be aware of ??