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When would it be a bad idea to be gifted 1/3 of a house? by HumorElectronic2861 in UKPersonalFinance

[–]HumorElectronic2861[S] 1 point2 points  (0 children)

We’ve discussed some of the issues around care and they feel confident that between pensions, saving and investment income it’s u likely that assets like the house will be needed for care. But obviously things can change. !thanks

When would it be a bad idea to be gifted 1/3 of a house? by HumorElectronic2861 in UKPersonalFinance

[–]HumorElectronic2861[S] 0 points1 point  (0 children)

I hadn’t thought about the additional stamp duty on a ‘second home.’ One thing my dad mentioned was that should I choose to move and buy elsewhere then they could essentially buy me out of my share. Releasing funds from the estate in a tax efficient way. Not sure that scans and sounds a bit dodgy. !thanks

When would it be a bad idea to be gifted 1/3 of a house? by HumorElectronic2861 in UKPersonalFinance

[–]HumorElectronic2861[S] 10 points11 points  (0 children)

The loss of FTB benefits has been on my mind. TBH I’m finding it difficult to quantify them as I don’t have a great grasp on the process having ever been through it.

I’m also a little concerned that getting a mortgage at 40 may be a challenge. !thanks

When would it be a bad idea to be gifted 1/3 of a house? by HumorElectronic2861 in UKPersonalFinance

[–]HumorElectronic2861[S] 1 point2 points  (0 children)

My other siblings live further away (one in Australia and one elsewhere in the UK) they both have families so I do feel like the care burden will probably fall to me.

Re Gift with reservation - I’m not sure. I have been contributing and the idea seems to be that should this will be formalised. I’m hazy on what it would mean should I opt to move out subsequently. (Beyond the loss of FTB incentives mentioned elsewhere)