My ex-husband has got himself into financial difficulties. He has offered to sell/gift (half:half) a flat to my sons for £200,000. My sons would raise a buy to let mortgage for £100,000 and my ex would gift the other £100,000 to them. However, the flat has a short lease of 60 years so is in truth not worth the current market value of other flats with extended leases, of around £200,000. The £100,000 mortgage payments would be covered by the rent and I understand there would be cgt implications on the £100,000 gift to my two sons should my ex die within the next 7 years. The block of flats is in a very desirable area and I am very tempted to advise my sons "to go for it". We can possibly make some enquiries regarding the possible cost of extending the lease but my ex wants the deal doing quickly.
I am wondering if I have missed anything important that needs to be addressed and any advice would be much appreciated.
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