Hi all, just run this past you...
I have a property valued at approx 110k that I want to sell to my son or sons for 70% LTV (77k) will most lenders take this into consideration or do they require the deposit to be cash/savings
Also does anyone know if there are any tax implications for me as the vendor for selling below Market value?
The property in question is currently let out on an AST with the consent of the lender (the mortgage is a residential, not a buy to let) and the tenants have been in situ for the last 21 months
Thanks in advance
I have a property valued at approx 110k that I want to sell to my son or sons for 70% LTV (77k) will most lenders take this into consideration or do they require the deposit to be cash/savings
Also does anyone know if there are any tax implications for me as the vendor for selling below Market value?
The property in question is currently let out on an AST with the consent of the lender (the mortgage is a residential, not a buy to let) and the tenants have been in situ for the last 21 months
Thanks in advance