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Selling my house to buy myself a flat and one for my son
Comments
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Few things to think about, but no hard and fast rules, you need to decide how you want to proceed.
- Do you expect the house sale proceeds to cover the two flats in full, or would one or both of you have a mortgage?
- Any other sources of money eg is son expecting to use a LISA or any other FTB only products?
- Do you expect to move out of your current house and both you + son move into the new flats on the same day? As that could complicate the chain as you're reliant on 3 transactions agreeing on dates. It might be simpler if you sell+but in a chain, son moves with you and then he buys shortly thereafter.
- Gift may be subject to deprivation of assets if you need care in the forseeable future.
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