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Buying a property in Son's name?

IamWood · 2021-12-13 14:55:11

Dear All, I am starting a new job and would like to buy a property with one or two beds to sleep in for 3/4 days during the week. Chances are my son will also share the property with me in a few years for his potential job. I already own a property that has been paid off. I wonder what the best options are for me to make…

Comments

theoretica Posts: 12,691 Forumite

13 December 2021 at 7:09PM

Also in the discussion of second home stamp duty, if your son buys this property (with your money) it will use up all his first time buyer privileges - stamp duty, isas, eligibility for various schemes. Which would put him in a worse position if he chooses to buy a different property rather than living in this one, and doesn't want to sell this because you still find it useful.

But a banker, engaged at enormous expense,

Had the whole of their cash in his care.
Lewis Carroll

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