Looking after the Old Folks...
Discussion
Elderley parents in their 70s, selling up abroad and looking to live back in the UK.
I don't want them investing in property at that age tbh and finances are limited whilst they await the sale of their foreign property.
They have a small crash pad flat in the UK that they will sell too.
Myself and 2 brothers are investigating buying another house and simply renting it to them at the lowest market rent we can BUT...
Do we buy it ourselves and take the SDLT hit or do we buy it through our Ltd Co ?? What are the pros and cons??
I don't want them investing in property at that age tbh and finances are limited whilst they await the sale of their foreign property.
They have a small crash pad flat in the UK that they will sell too.
Myself and 2 brothers are investigating buying another house and simply renting it to them at the lowest market rent we can BUT...
Do we buy it ourselves and take the SDLT hit or do we buy it through our Ltd Co ?? What are the pros and cons??
Even through a limited company you will pay the new 3% extra, unless you are going to spend megabucks it's just a new fact of life. You could always lend them the money and have them buy it, you can put a charge on it and recoup your money when the inevitable happens.....for the sake of 3% its loads of hassle
Gassing Station | Finance | Top of Page | What's New | My Stuff