Property News · July 25, 2022

Can we put up the money for our son to buy a house at auction in his name?


We’re wondering how easy it would be for him to get a mortgage and if there would be tax implicationsQ Just wondering if you can help settle a matter regarding helping our son to buy a house. He is 26 years old, currently renting and looking to buy a house using savings, a lifetime Isa (Lisa) and some help from us.We have seen a house that is going to be sold at auction. The guide price is £130,000 but we expect it to go for more. It will need extensive work, which we estimate will cost in the region of £30,000 to £40,000. Once renovated, we think it will be worth £250,000. Continue reading…

Source : theguardian.com
Read more…Can we put up the money for our son to buy a house at auction in his name?