Fair Rents (Scotland) Bill or Artificial state manipulation of free market rent?10:34 AM, 6th November 2020
About 4 weeks ago 36
“Hello Mark, very impressed with your site, I have a question for you:
My wife and I have a small portfolio of property which has been built up over the years by keeping on our residences rather than selling to finance the new ones. None were purchased on Buy to let mortgages.
We own them jointly which I see from you articles may not be the best option but aside from this we are considering selling the properties that we let to clear the loan on our principle home. The let properties have remnants of the original mortgages left to pay. Our principle property has been financed by a business loan.
As the money raised from the let properties is to be used to pay off the loan on the principle property will this money be first subject to CGT or can it be classed as transfer of equity for example within a business or such like.
Best regards Chris
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