If you have a JBSP mortgage, what has your experience been?
We would like to help our son buy his first property, hopefully next year. We want him to be sole proprietor so that he qualifies for first time buyer stamp duty rate. Plan A is to gift him a large enough deposit so that he can just get a mortgage on his own. However, if we're not able to fully cover that, a JBSP mortgage may be a potential Plan B. My understanding is that he would still qualify for first time buyer status. Is that right?
I have read the Unbiased.com overview of these mortgages which says tax implications "may vary" which seems a bit vague.