Parents paying off mortgage

Slithery

CommStone said:

They can afford to do this lovely thing for us. 

Even with a £25k gift tax to pay?

gingercordial

Do you have any siblings?  The French have strict rules on inheritance with set percentages that must be left to children (not like here where we can choose who to leave to) and even gifts made during their lifetimes may have to be factored in.  It may not be possible for your parents to do this for you but not your siblings too, or there may need to be something in the will to "make it up" to your siblings.  They need to take advice in France on inheritance law and tax exemptions.

RAS

Do check the new regulations about EU citizens right to move to the UK after Brexit, before you go much further. I know it's going to be extremely difficult for a UK citizen to bring an EU spouse to the UK unless they earn more than a specified income. Visiting for periods of less than 6 months would not be an issue.

xylophone

Zut alors, c'est très compliqué 

Mais a quoi vous attendriez vous?  Le droit fiscal anglais n'est pas simple, n'est-ce pas?

Sotts

theartfullodger said:

I brought up my kids to be self-sufficient: Can't think of any circumstances when I'd do what your parents are planning but, hey, free country.

Their choice. Just because you wouldn't do it, doesn't mean someone else shouldn't

AdrianC

RAS said:

Do check the new regulations about EU citizens right to move to the UK after Brexit, before you go much further. I know it's going to be extremely difficult for a UK citizen to bring an EU spouse to the UK unless they earn more than a specified income. Visiting for periods of less than 6 months would not be an issue.

Indeed. The hopes of getting a retired, elderly, dependent parent in must be fairly slender.

Mickey666

Sotts said:

theartfullodger said:

I brought up my kids to be self-sufficient: Can't think of any circumstances when I'd do what your parents are planning but, hey, free country.

Their choice. Just because you wouldn't do it, doesn't mean someone else shouldn't

Quite.  
The OP is asking for advice, not judgement.  I think it's reasonably fair to assume that the OP's parents can afford this gift, but even if they can't so what?  That's not what the OP was asking about.

Mickey666

theartfullodger said:

I brought up my kids to be self-sufficient: Can't think of any circumstances when I'd do what your parents are planning but, hey, free country.

So no inheritance for your kids then?

steampowered

theartfullodger said:

I brought up my kids to be self-sufficient: Can't think of any circumstances when I'd do what your parents are planning but, hey, free country.

Actually, £200k per child is roughly the sort of gift you would need to give your children to give them the same life chances as you.

The generation who are retiring now or recently retired, will receive about a third more over their life time in government spending than they paid in taxes.

lookstraightahead

In the Uk, if you build an annexe for your parent to live in, with their money, and then they need healthcare, isn't it a risk that the whole house would need to be sold to finance the care?