K
KRP
New Member
Hi everyone
I am after a bit of advice (isnt everyone!?) please feel free to move this if i’ve posted in the wrong group.
I own a rental property which currently has no mortgage outstanding on it. The property currently generates no income as a family member is living there. When they leave (12 months or so) I will start to let it and as I am a higher rate tax payer it seems to make sense to transfer the property into a spv to reduce tax.
So far so good.... however....
My wife and I currently own our family home with an outstanding mortgage. She is expecting and we are looking to move to a bigger house. We want to use help to buy to fund part of the purchase but cant due to me owning the rental property. If the rental property was in a spv would that mean we could use help to buy as technically the spv would own it and show on any land registry search?
All advice will be greatfully received!
I am after a bit of advice (isnt everyone!?) please feel free to move this if i’ve posted in the wrong group.
I own a rental property which currently has no mortgage outstanding on it. The property currently generates no income as a family member is living there. When they leave (12 months or so) I will start to let it and as I am a higher rate tax payer it seems to make sense to transfer the property into a spv to reduce tax.
So far so good.... however....
My wife and I currently own our family home with an outstanding mortgage. She is expecting and we are looking to move to a bigger house. We want to use help to buy to fund part of the purchase but cant due to me owning the rental property. If the rental property was in a spv would that mean we could use help to buy as technically the spv would own it and show on any land registry search?
All advice will be greatfully received!