Tax Implications?

Q: Hello, I’ve got an interesting question. I currently owe approx £100,000 on my mortgage of the flat I live in. But the wife and I are looking to move into a house in a different area and let out this flat. Now then, my mum has agreed to lend me £100,000 t

A:

Thanks for your query. It’s a good question and difficult to know the best tax treatment. We would advise that you consult a qualified accountant for this and can refer you to several good firms. Just give us a call on 020 7519 4900 and we would be happy to assist.

These questions are for information purposes only and do not contain all the details you need to choose a mortgage, ask one of our advisers for a personalised key facts illustration

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Your home or property may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it. Changes in the exchange rate may increase the sterling equivalent of your debt. You may have to pay an early repayment charge to your existing lender if you remortgage. Think carefully before securing any other debts against your home.  

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