Hi,
I have had an offer accepted for a BTL property that I wanted to co-buy with my 20-year old student daughter. The mortgage broker says it is difficult to get her accepted, as she is not working. The alternative is therefore to buy in my sole name and get a trust deed that gives her the majority beneficial interest. I wonder how robust such an arrangement is? The idea is to sell again in 5 years time. I wonder whether HMRC can object to the rental income and CGT being split when she is not on the title but her being the beneficiary owner is stipulated only in a trust deed?
I am trying also to avoid going through a ltd company route as it is terrain that in unfamiliar to me and I like to keep things simple. Also for her being in a ltd company is not advantageous.
Please do share your knowledge and advice. Thanks.
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