paintpotmen
Registered User
- Messages
- 22
HELLO
I am in the middle of SELFBUILD at the moment its a domer 2400sq.ft. I had 100,000 profit from my 1st house which has done foundations blockwork red brick around windows stonework and roof.
I am now ready to draw down mortgage which i have to pay 80,000 for site of father
I have got a engineer to certify the stages,i have paid my builders in cash and small amout cheque does that effect my mortgage and how much could i draw down 1st?.
Does anyone know about paying for a site of family how much should i say i paid for it as dont want myself or father or uncle to be liable for too much tax etc.
many thanks
We got 80% of the value of "declared" value of the site, in other words we paid declared value + cash to the land owner.
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