X

Sign Up

or

By signing up I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Sign Up

Sign Up With Facebook, Twitter, or Google

or


By signing up, I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Log In

or


Don't have an account? Sign Up

Forgot Password

To reset your password just enter the email address you registered with and we'll send you a link to access a new password.


Already a PT member? Log In

Don't have an account? Sign Up

  • Mortgages & Finance

    Raising Money Help/Query

    Hi

    I currently have one BTL property with interest only mortgage and my home with repayment mortgage, I was exploring ways of how to get more capital to invest in more properties and my mother suggested putting her house (no mortgage) in my name in which i could remortgage it to borrow a lump say 100-120k on interest only and then use this lump sum as deposits for 3/4 further investment properties

    Is this even possible? what implications or problems could there be?

    Also who would be the best people to give me advice on this situation?

    All help and advice greatly appreciated

    Thanks

    0
    0

    From my understanding likely attract CGT, will crystallize gains. Inheritance tax also if mother lives less than 7 years. After transfer, only able to release equity after at least 6 months.

    0
    0

    Don't risk your Mum's home for investment purposes.........


    0
    0

    So many different things to consider here, including if your mum remains as an occupier of that house, and you capital raise against it, you would need a regulated BTL mortgage product and they are few and far between. A traditional BTL mortgage is not allowed in these circumstances.

    If you progressed with this strategy you and your mother should discuss your specific circumstances with a family lawyer who also understands property and landlords (eg Anthony Gold), a property tax adviser (eg Rita4Rent), and a specialist BTL Broker (https://www.propertytribesfinancialservices.com)

    Based on your own personal circumstances, you will then be appraised of the pros, cons, merits, pitfalls and costs.


    0
    0

    FOR INDEPENDENT MORTGAGE AND INSURANCE ADVICE

    PROPERTY TRIBES FINANCIAL SERVICES

    http://www.propertytribesfinancialservices.com

    http://www.propertytribesfinancialservic...contact-us

    CONTACT US FOR LIFE INSURANCE QUOTES AND STRATEGIES.  PORTFOLIO MORTGAGES (VARYING TERMS) COVERED

    http://www.propertytribesfinancialservi...statement/