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Closed Solicitors

Valerie Guascone
posted on Tuesday 6 April 2021
expired on Tuesday 20 April 2021
1 Question(s) | 3 Offer(s)
CR2, South Croydon, Greater London
Good afternoon, Hope you are well. I was wondering if your company would like to quote for the following? My husband and myself own a flat valued at £300,000 Mortgage outstanding is £100,000 fixed term mortgage expires December 2021 My son lives in the flat with his wife and pay rent to us. My husband and myself would like to sell part share of the flat to my son's wife (My son owns his own shop and hasn't made a profit so can't get a mortgage). This should help them get on the property ladder. £100,000 mortgage raised by daughter in law £100,000 mortgage raised by myself £100,000 equity jointly owned by my husband and myself The £200,000 raised is to be used to pay off the mortgage outstanding £100,000, £100,000 to my husband. I look forward to hearing from you.

Public Chat

  • Lloyd Rehman & Co
    Lloyd Rehman & Co, posted on Tuesday 6 April 2021 Mrs. Guascone, If you transfer the Legal Title that could trigger a Capital Gains Tax liability. How old is your husband? You can get Buy To Let mortgages up to last until at least 75 years old. Why are you raising a further £100,000, presumably on your own Property, to pay your husband - are you still together? I need to know alot more before I can work out the best way for you to proceed here. KR, Nigel Lloyd, Lloyd Rehman & co.
    Valerie Guascone, posted on Tuesday 6 April 2021 Hello, my husband and I jointly own our own house, mortgage ends December. The flat is jointly owned and currently a buy to let mortgage, fixed term rate ends December.. Our mortgage advisor says joint mortgage between myself and daughter in law could be ordinary one as dependants will live in the property. Mortgage for £200,000 based on her salary and my pension. £100,000 to my husband is for him to buy a property in Spain. £100,000 to pay outstanding mortgage on the flat. Both my husband and myself are 60 and retired. Hope this helps, pls let me know if you require further info. Val
    Lloyd Rehman & Co
    Lloyd Rehman & Co, posted on Tuesday 6 April 2021 Mrs. Guascone, How much did you originally buy the flat for and was it ever your main residence. I am concerned that you might have a CGT liability if you transfer the Title to you and daughter in law. KR, Nigel
    Valerie Guascone, posted on Saturday 10 April 2021 Bought for £162k. Yes, flat was our main residence, then we bought a house and since then my son has lived in the flat with his wife.

Received Offers (3)