We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Buying a house with/for parents
Comments
-
Perfect answer. Thank you.oldbikebloke said:
there is a subtle differenceblue_max_3 said:
Thank you. That wasn't clear from the replies. Is this known to be successful to ring fence the property?Slithery said:
Which is exactly why we've all suggesting lending the money with a charge against the property...blue_max_3 said:An issue which comes to mind is if they have to go in a care home at some point. Given the current situation where they can come after their home to pay for it, I would want to consider that in the planning.
- it does not ring fence the property,
- it ring fences the money you have invested in it
the council can still require the property to be sold to pay for care home costs, but the loan to you has to be repaid first from any sale proceeds before the rest can be used to fund care1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.8K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards