21 Apr 21, 10:39 PM
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#12
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Imagineer
Join Date: Apr 16
Location: Hampshire
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I think your parents would have to gift you the remaining £200k, the bank would want a letter from them stating that they had no financial interest in the property. Their tax liability wouldn't change so you would all need to consider that. If they died within 7 years of the transaction the house would be considered part of their estate for inheritance tax purposes, but if everything is going to you anyway this might not be a consideration.
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