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Posts: 5 Forumite
I have a small house in main grounds of our home and thinking of selling it to my son for £1 to allow him to take advantage of a new owner's grant? Any pitfalls please? Thank you
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What is a new owners grant?0
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I also have no idea what a "new owner's grant" is. Apart from that:
Is the property mortgaged? If so you would need to seek your lender's consent to remove it from your title.
Does it have planning consent to be occupied independently of the main house?
Do things like service media need to be separated out?0 -
Would this be public money to allow a new owner to improve some aspect of the property? If so, then I presume this is a contrived arrangement designed simply to gain money that you know you wouldn't otherwise be eligible for...?0
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You'll need to elaborate a little on the situation in order to get any advice.
The limited information you have provided as you can see has not as yet been able to procure anything meaningful from otherwise knowledgeable postersin S 38 T 2 F 50
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A small house in the main grounds leads me to think the OP is not in true need of any kind of grant at all.0
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what type of small house...a wendy house or a summer house.....in S 38 T 2 F 50
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I have a small house in main grounds of our home and thinking of selling it to my son for £1 to allow him to take advantage of a new owner's grant? Any pitfalls please? Thank youI am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0
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Grant given in this area by county council to spend on a newly purchased home0
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not mortgaged, no planning issues, no issues with services, thank you. However, am I legally entitled to sell house for £1 to son? Thank you0
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