Good Morning,
After some advice if anyone can help?
I am currently in the process of changing my mortgage that I currently have on my house from tenants in common with my Father to sole ownership to myself
House was purchased in 2005 for £205k and currently has been valued at £365k. I will be obtaining a mortgage for £240k on the property. My father haddnot lived at the property nor had any financial input with regards to the mortgage repayments during this period. I will not be paying my father any monies when the transfer of ownership is done. My father owns his main residence.
Canyou advise if any taxes will are applicable against my father (capital gains tax)?
Appreciate any advice.
Thanks
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