Good evening
My elderly brother who is a pensioner faces going into rented accommodation shortly.
He will have about £50,000 left in the bank.
If I were to try and fund a house for him in my name (which would be a second home,) and let him live there rent free, would he be allowed to contribute some of his remaining capital towards the purchase as a kind of ‘gifted deposit’…even though it wouldnt have a mortgage on it.? Would there be some kind of tax to pay? He has no interest in having any kind of ‘interest’ in the property.
I am too old to get a mortgage myself to buy him one, and dont quite have the cash to buy him one outright so would need his contribution.
If he should pre decease me and I should later move into that property, what would be the tax implications be
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