you need to check into that, re signing the house over. You have to pay a commercial rent back to the girls or IR say it is not a genuine contract. and they can still go for death duties or claw back if you go into a home. All to do with you having the benefit of the house.
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Quote:
I was looking to buy a 90k studio at 24/25 as my start point with a 10-15% deposit (to get the 15% the ZS would have been sold) - but my life took a different turn.... But if there were more properties available to be bought the price would be lower. And I feel it is the rental market that *is* the cause of it. + a little down to life expectancy and changes to lifestyle in older years. 2 friends who are my peers (35-40yo) each bought a small flat as single people in their 20's, they've married and in the time they've known each other, they've kept one flat that they rent out, sold the second flat to buy another to rent out for a larger rental income, and using income (rent + salary) they've now bought a 3rd place to live in. (While they built up the deposit for the 3rd place they rented) They're stopping two lower income/younger people from getting their foot on the ladder but saw that financially it made more sense to not sell up. Quote:
Think they settled on the trust and the 7 year rule as the "safest" option for them at the time. |
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