Guest
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I have sold my flat and would like the next property to be in my name, but my partner will be borrowing some money via a mortgage as I can’t borrow anything. Is this possible?
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| Posted: 06 Jun 2011 14:16 Back to top |
Kate Faulkner
Posts:70
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On your tax situation, no lender will lend on a mortgage to someone who hasn’t got the right share of the property, so no it can’t be in your sole name. An IFA/broker should be able to sort this, visit our section on IFA’s/brokers - http://www.designsonproperty.co.uk/categories/How-to-Find-a-Mortgage . If you aren’t married then tenants in common can be better, it depends who you want to leave your share of the property to and what you want to have happen if you die. The downside might be the tax implications, so you’d need to consult a tax/legal specialist. For more info, take a look at our tax/legal page - http://www.designsonproperty.co.uk/categories/Legal-Property-Services-Investment
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| Posted: 07 Jun 2011 12:01 Back to top |