SPV and family home with Help to Buy?Make Text Bigger
I have a rental property held in a SPV (Single Purpose Vehicle Ltd. Co.) with myself and my wife as directors. The rental property held in the SPV has no outstanding mortgage. There is no income currently generated by the rental property as a family member is living there at the moment. Our family home is owned by us outside of the SPV.
My wife is expecting and we are looking at a bigger family house. We were contemplating using Help to Buy as part of the purchase, but am unsure if this is even an option because of the other property held in the SPV. Is anyone able to advise on this?
Alternatively, I’m also thinking that we purchase the new family home through the SPV by raising capital against the rental property. The rental property will ultimately be generating income once the family member has left.
If anyone has any advice on thoughts on the best way of structuring this that would be great.
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