Apologies if this has been asked before but if so point me in the right direction.
Ok I am not an FTB but due to the sale of my property I have a significant lump sum.
However my wife falls into the FTB category as she was not on the title deeds in the previous house. So basically she should buy, however the lump of money is in my name.
Can I "give" her the money without getting taxed and she put her name down as owner? The other issue is her salary is quite small so the amount she can get as a mortgage is small, is there anyway my salary can be taken into account her but just her be on the mortgage.
The idea being that once we get threw the 5 years or whatever interest free we re-mortgage as both?
Any ideas?
Ok I am not an FTB but due to the sale of my property I have a significant lump sum.
However my wife falls into the FTB category as she was not on the title deeds in the previous house. So basically she should buy, however the lump of money is in my name.
Can I "give" her the money without getting taxed and she put her name down as owner? The other issue is her salary is quite small so the amount she can get as a mortgage is small, is there anyway my salary can be taken into account her but just her be on the mortgage.
The idea being that once we get threw the 5 years or whatever interest free we re-mortgage as both?
Any ideas?