Sale of rental property to family

General Discussion

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.