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Will inheriting a house affect my status as a first-time buyer?


I am likely to inherit half of my mother’s home and also have money in a lifetime IsaQ I have been good with my personal financial planning and have been saving to buy a house with my partner. We each have about £25,000 in our individual lifetime Isas (Lisas) so have over £50,000 in total saved. We are in no rush to buy and were waiting for the market to calm a little bit post-Covid. Neither of us has ever bought or owned property.Unfortunately my mother has been diagnosed with a rapidly spreading terminal cancer and she is likely to pass away in the next 18 months. At that point my sibling and I will jointly inherit her house. I have no intention of living in her property as I have established my life and career several hundred miles away. Either my sibling and I will sell the house, or they will buy me out of my half (most likely the former). Continue reading…

Source : theguardian.com
Read more…Will inheriting a house affect my status as a first-time buyer?

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