family buying a house

[oaky8]

my mother and father and my brother and i are thinking of buying a house together is this possible through solicitors and my brother and i are first time buyers . the house price is about 400k is this allowed i know this is a complicated purchase but we are a very close family and have no money worries as we have a few other propertys. We are thinking of this venture as we hope to have it paid off in 5 years

 

[ClubMan]

Thread moved from Mortgages and Buying and Selling Homes

Of course it's possible for three people to jointly buy a property! Get independent professional advice about the investment, tax and other implications of such a venture.

 

[money man]

And four people clubman

 

[Billo]

"and have no money worries as we have a few other propertys."

How are you first time buyers so ?

 

[money man]

In order to avoid paying stamp duty you would all need to be first time buyers unfortunately. neiter could you get TRS if it is an investment property.

 

[ClubMan]

In order to avoid paying stamp duty you would all need to be first time buyers

And owner occupiers!