Sale of rental property to family
General Discussion

Johnny Humber
Johnny Humber
0 Thanks
5 Posts
3 months ago
0

Hello my first post here. I wonder if any members have experience of this scenario and can  give me any info or opinion on the feasibility, pitfalls and tax aspects.

I want to sell a rental property to my daughter for around £500K.  Although let for the last 6 years it was previously the family home for 32 years.   My daughter lives and works overseas on 2 year renewable contracts.    She has a 40% deposit which is enough to clear a £200K BTL mortgage on the property which is 40% LTV.   I would gift her 30% from the equity and would offer a private loan to cover the remaining 30% of the asking price.   The loan would also come from the equity in the property. I hope to deal with the transaction and tax liabilities myself. Thank you.

 

Please Login

You must be logged in to participate in our forums, to continue please login below.

Not a member? From only £99 you can join in the discussion and get access to member's only resources and services.

As the home for landlords, the NRLA are here to help you save time, save money, and stay compliant. NRLA membership gives you access to a vast range of expertise, resources, and exclusive member benefits and savings, designed to help and empower members. We also play a pivotal role in campaigning and championing the interests of landlords.