leitrimlad
New Member
- Messages
- 3
would also need the inheritance allowances
But assuming your parents have life assurance on the mortgage; their best option may be to stick with the interest only & let the life assurance pay off the capital when that day comes.
Except you don't get to take an inheritance while they are still alive!I feel what the op means by inheritance/335 is that he wants to use the inheritance threshold to cover the 'gift' of the value of the house between what he can borrow to 'buy' it from parents and it's actual value. I don't think he is expecting an actual inheritance of any sort really.
I can see the thinking behind the plan but it falls down by the fact the house is worth more than the outstanding debt, lender is unlikely to offer any sort of deal, be different if it was in negative equity there might be better chance.
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