Hi,
Hope someone can help. I am looking at buying a site with planning for 2 houses. I am a first time buyer and have a family member (not a first time buyer) who would be will to buy the 2nd house once it's built.
What is the tax situation around this? Are we better off getting a joint mortgage for the site and building costs both houses or me getting a mortgage for the site and build of the properties and then sell on the second house.
If we got a joint mortgage and I wanted to sell my house is 5 years how would this work?
Hope someone can help. I am looking at buying a site with planning for 2 houses. I am a first time buyer and have a family member (not a first time buyer) who would be will to buy the 2nd house once it's built.
What is the tax situation around this? Are we better off getting a joint mortgage for the site and building costs both houses or me getting a mortgage for the site and build of the properties and then sell on the second house.
If we got a joint mortgage and I wanted to sell my house is 5 years how would this work?