I am a single parent who owns a house but have been let go from my job and I am finding it hard to pay the mortgage. Another issue is that even though I bought the property on my own my partner was living with me and it was in another county and now that the relationship has ended I really need to move back to where all my family and friends are .
I am contemplating signing ownership of property over to my father with out money changing hands but am unaware on how to begin this process or if the implications would be good or bad for him re tax etc.
My hope then would be to apply for rent allowance as at the moment I wouldnt be able to afford rent but obviously because I am a home owner I am not entitled to rent allowance.Does this sound insane, or has anyone else experienced simular ?
I am contemplating signing ownership of property over to my father with out money changing hands but am unaware on how to begin this process or if the implications would be good or bad for him re tax etc.
My hope then would be to apply for rent allowance as at the moment I wouldnt be able to afford rent but obviously because I am a home owner I am not entitled to rent allowance.Does this sound insane, or has anyone else experienced simular ?