Discussion
Following my father's death my mum sold their home and moved into a retirement home.
Some or all of the proceeds could be used to buy a property to rent out, the income from which would help to offset the substantial home fees.
I'm not 100% sure but I think that the purchase of the property would be liable for the 3% BTL surcharge as it would not be my mum's main residence, even though she doesn't own any other property.
Am I right about this or is there some way of avoiding the extra 3%? for instance it would be my mum's first property purchase in her own name, rather than with my late father.
Grateful for any advice from those who know more than me i.e. probably nearly everyone...
Some or all of the proceeds could be used to buy a property to rent out, the income from which would help to offset the substantial home fees.
I'm not 100% sure but I think that the purchase of the property would be liable for the 3% BTL surcharge as it would not be my mum's main residence, even though she doesn't own any other property.
Am I right about this or is there some way of avoiding the extra 3%? for instance it would be my mum's first property purchase in her own name, rather than with my late father.
Grateful for any advice from those who know more than me i.e. probably nearly everyone...
Gassing Station | Finance | Top of Page | What's New | My Stuff