Property News · December 12, 2023

I want to buy my disabled mum a home in Scotland, but I can’t afford the property tax


She can’t get a mortgage, but if I take one out the property will be classed as a second homeQ I’m looking for advice on the tax implications of buying a property for my disabled parent to live in. My husband and I own our house that we reside in, in Scotland. We also have children and I work part-time.I own my mother’s home because she cannot get a mortgage. Because of her disability I need to move her closer to where we live so I can help care for her. She cannot work and is therefore not able to get a mortgage in her name in order to move. This means I will need to get a mortgage to buy the property and this will then mean it is classed as a second home and be liable for the additional dwelling supplement. This is an additional tax of approximately £15,000 on the home prices we are looking at. Continue reading…

Source : theguardian.com
Read more…I want to buy my disabled mum a home in Scotland, but I can’t afford the property tax

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