Brother wants to buy parents a bungalow

[Dizzy1984]

Hi

So my mum is ill with kidney failure and is struggling to navigate up the stairs.

My brother suggested that he buys a bungalow for them in his name and they pay the mortgage for him.

My dad then said my brother wants to buy their house from them and rent it out. So in effect the money they get given from him for their house purchase will then be spent on paying my brother's mortgage on the bungalow he purchases.

My dad doesn't understand why I'm annoyed by this. Am I out of order and looking at this wrong. My dad always said that the reason he bought the house was for me and my brother so we both have something.

It just looks to me like my brother is the only one winning in this situation. He's effectively buying the house with money that is going to go straight back to him anyway.

I know they don't have to leave us anything but I can't help but feel annoyed.

If your mum if only 59 I take it your Dad is a similar age.

She may get some state pension if she claimed child benefit when you are your brother where younger. She will have got pension credits then. She will have to look at what she is entitled to.

But I think your brothers plan is a terrible idea. Your parents are to young for this to be a good idea, both sets of grandparents in our families are approaching 80 and dispist health problems including heart surgery haven't need care yet. Even if you mum doesn't live this long your Dad certainly could. They could easily run out of money to pay your brother rent on the bungalow and then what happens? Please point this out to your parents. I'm sure there could also be issue over selling the house and using up assets in this way you need to seek legal advice but it could been seen as a deprivation of assets and your brother may end up having to sell the house anyway in order to fund carehome fees. Especially as the property has been sold to family and then the money handed over to family. I actually feel your brother is trying to get around money being used for care so he can inherit the house.

It would be much better for them to sell the house and downsize now. They maybe able to free up some capital to invest or at lest be in a more suitable house with less outgoings, going forward.