Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Monty1978
    • By Monty1978 8th Jan 18, 7:19 PM
    • 8Posts
    • 0Thanks
    Monty1978
    Can a house be a tax free gift?
    • #1
    • 8th Jan 18, 7:19 PM
    Can a house be a tax free gift? 8th Jan 18 at 7:19 PM
    OK so basically my dad and I are trying to buy the other half of his shared ownership property.

    It's not looking like he can get a mortgage due to his age. We can't divide the ownership of the property so he's thinking of signing it over to me so I can get a mortgage for the half that the housing society currently owns and obviously that will save him having to pay rent on the other half.

    I'm not 100% comfortable with the idea but it might be the only option.

    1- is it possible for a 62 year old on a pension to get a mortgage or is it entirely out of the realm of possibility
    2- if he signed his share of the house over to me, would I get hit by a inheritance tax bill?

    Thanks
Page 1
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

481Posts Today

4,970Users online

Martin's Twitter