Neil Smith

Registered with Property118.com
Wednesday 7th June 2017


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Total Number of Property118 Comments: 1

Neil Smith

8:47 AM, 7th June 2017, About 5 years ago

What to do with my Buy to Let property now I'm married

Thanks Neil.

A couple of questions on your reply. Firstly the £40,000 is this of the purchase price or current value? Also is this of the whole value or just the mortgage portion? E.g. assuming it is based on the current value can I transfer £40,000 to my wife (11.42%) or could I transfer £87,500 Equity + £40,000 = £127,500 (36.4%)? Is this something that can only be done once per property or does it renew? Can I give her £40,000 every year until she has 99%?

Then if I only gift her one of these percentages I presume she is then responsible for that percentage of the mortgage interest and puts that on her tax return? Is this true even though the mortgage is still fully in my name?

So at say 11% she would receive rent of £1425 * 11% = £156.75 and be responsible for 11% of the mortgage £600 * 11% = £66

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