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buy to let property for my mother with my money
Comments
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I have an elderly mother who apart from having tiny little pension is financially dependent on me.
As Mojisola has asked, is your mother entitled to any benefits that she is not currently claiming, notably Pension Credit?
https://www.ageuk.org.uk/globalassets/age-uk/documents/factsheets/fs48_pension_credit_fcs.pdf
Is she ill/infirm?
https://www.ageuk.org.uk/globalassets/age-uk/documents/factsheets/fs34_attendance_allowance_fcs.pdf
Does she currently own her own home?
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So you want to expose mum to tenants-from-hell, agents-from-hell, voids, repairs, being prosecuted by council, the risk of having a brothel or cannabis farm and property price drops? Extra capital meaning she ain't eligible for some benefitss... tax bills, the insults and disgust so many landlords get? Bad idea.
Artful: Landlord since 2000. Most years I make money from renting, but not always.
Happy holidays everyone5 -
This is an appalling idea. If you want to be a landlord, give it a try, but don't drag your mum into it.5
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How long have you been waiting for the daft property bubble to burst?Crashy_Time said:LOL, love these wind up threads, the sooner the daft property bubble bursts the better, there probably still are people who think you can`t go wrong with anything connected to B&M, LOL.0
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