Hi
I am after some advice. In 2004 my mother gave me £80000 as she had sold her house and wanted me to invest. I didn’t really want the money as I always felt she would need it back. I bought a house which is now worth £280000 with a £60000 mortgage on it. BTL mortgage.
Due to a breakdown in a relationship and illness she ended up moving into this house and has contributed to the upkeep maintenance and so on and I told her I would give it to her.
I deeply care for her and want what’s best but also don’t want to hand it back and me be left with a big tax bill.
She is now wanting to pay the rest of the mortgage off and have the house put in her name.
Is this possible what is the best way to do this it’s causing me a lot of worry as I want things doing correctly but don’t want a big bill which from reading I think I’m going to get.
Thanks
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