Can anyone help???

beccypm

My dad has sadly had a stroke. He owes some money due to an equity release on his house. This is going up annually at an alarming rate. He is waiting for sheltered accomodation. When this becomes available should I sell his house -pay off money owed, then let goverment take rest? His money will run out quickly because he will loose his benefits and have rent to pay. I would like to take out a buy-to-let mortgage and rent out the house. The money raised will a pay off the loan and pay his rent and give him a bit spare. I will have to put his house into my name as well as his to do this. So if he goes into a home can the government turn round and say its 'delibarate deprivation' and make us sell the house anyway? Plus when something happens and the house is sold will I caught for capital gains tax on the bit that I own? PLease help I'm so confused !! How can I find out the best thing to do for everybody involved, and stop this equity release company eating up the house???

savvy

Hi beccypm, I've split your post from the other thread as it wasn't getting noticed. Hopefully someone will be along soon to help you out.
Good luck
savvy