We are hoping to buy in the next year or so. Purchase has been massively delayed by half a decade due to DH debt/furlough period.
FIL has decided to sign over his property, value circa 100k, to DH/SIL in life while remaining in residence.
This would mean that we go from being first time buyers to second time purchasers.
I am worried about
a) losing h2b isa bonuses 6k if buy under 250k and stamp duty costs if buy over 250k.
b) increased interest rate on our mortgage.
c) capital gains tax on second property when eventually sold.
c) SIL in the process of divorce from BIL who has money issues - FIL may end up out of home if sale forced by BIL.
d) claw back via deprivation of assets if FIL goes into a home.
I feel I have a valid concern about the potential costs to us over mortgage term substantially reducing the benefit of anything DH gets.
How would you handle this, am I blowing this out of proportion? What ways around this would you suggest??
I’ve already thought FIL could sign over to our DC instead or I could purchase a smaller property on my own rather than go in with DH.
I am already due to provide 85% of a six figure deposit and pay half the mortgage. I feel this is potentially another financial hit from DH side and I feel pinched enough as it is.