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The plan is to grant her an informal mortgage, which she could pay directly to...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-151","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-2r","jetpack-related-posts":[{"id":110799,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/how-can-we-remortgage-when-my-husband-is-aged-62\/","url_meta":{"origin":151,"position":0},"title":"How can we remortgage when my husband is aged 62?","date":"September 16, 2019","format":false,"excerpt":"\r We can\u2019t find an affordable deal from a bank due to his age, despite having a lot of equityQ My husband and I are stuck in a bit of a Catch-22. Since 2004 we\u2019ve had an interest-only mortgage of \u00a3153,000. Our house is now worth about \u00a3303,000 so we\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":101436,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-i-remortgage-for-the-final-18-months-of-my-loan\/","url_meta":{"origin":151,"position":1},"title":"Should I remortgage for the final 18 months of my loan?","date":"November 19, 2018","format":false,"excerpt":"\r I have an interest-only mortgage and I\u2019m a bit concerned in case the rate goes upQ My current fixed-rate mortgage deal ends about 18 months before my mortgage comes to an end in 2022. It\u2019s an interest-only mortgage so the last \u00a340,000 should be paid off by my endowment\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":34694,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/we-may-have-to-let-our-house-next-year-will-that-affect-our-remortgage\/","url_meta":{"origin":151,"position":2},"title":"We may have to let our house next year \u2013 will that affect our remortgage?","date":"November 17, 2016","format":false,"excerpt":"\r My girlfriend and I want to move to the continent and wonder if we need to get a buy-to-let deal when remortgagingQ My girlfriend and I got our first mortgage of \u00a3205,000 on a house in February 2015. The mortgage has a 30-year term and an interest rate of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":185,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/can-we-remortgage-to-pay-off-the-equity-loan-on-our-home\/","url_meta":{"origin":151,"position":3},"title":"Can we remortgage to pay off the equity loan on our home?","date":"November 5, 2015","format":false,"excerpt":"\r Property prices are rising so my fiance and I would like to pay off our Help to Buy loan but are unsure whether a remortgage is the best way to do thisQ My fiance and I have a joint mortgage on a new-build home in Scotland. The house cost\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112091,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/after-grenfell-homebuyers-told-their-flats-are-worthless\/","url_meta":{"origin":151,"position":4},"title":"After Grenfell, homebuyers told their flats are worthless","date":"November 2, 2019","format":false,"excerpt":"\r Thousands of property owners in tower blocks are unable to sell or remortgage in the wake of the disasterLucy Stevenson is one of a new breed of \u201cmortgage prisoners\u201d \u2013 trapped in an unsaleable home, rejected by lenders when trying to remortgage \u2013 because her flat is in a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":76298,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/how-to-remortgage-your-home\/","url_meta":{"origin":151,"position":5},"title":"How to remortgage your home","date":"March 17, 2009","format":false,"excerpt":"\r Would you like to cut you monthly repayments, pay off debts or reduce the term of your mortgage? You probably need to remortgage. Here's howRemortgaging is the process of moving your mortgage from one lender to another. There are four main reasons to do this:\u2022 to reduce your monthly\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/151"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=151"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/151\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nThe plan is to grant her an informal mortgage, which she could pay directly to the bank, but would her repayments be considered taxable rental income for me?Q My daughter is struggling to have a mortgage approved on a new flat costing \u00a3200,000. At the same time, my wife and I are lucky to have equity available in our family home. I am earning a good salary and my bank has indicated that it would approve a remortgage of \u00a3200,000 at a discounted rate. The solution seems simple: my wife and I could remortgage the family home, buy the flat that my daughter is interested in, grant her an informal mortgage and allow her to live in the flat rent-free. She can pay off the mortgage directly to the bank \u2013 when the balance is zero we would transfer the ownership of the house to her. My only concern is tax. Would the interest and capital repayments she makes directly to the bank be considered taxable rental income for us? If so, they would push me into the higher rate tax bracket and maybe make the plan unviable. SP Continue reading…
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\nSource : theguardian.com
\nRead more…I want to remortgage the family home to buy my daughter a flat \u2013 my worry is tax<\/a><\/p>\n