have a client who has bought a property for his son to use, He raised the finance by cashing in endowments remortgaging on his own property and interest only mortgage. He pays £194 a month on IO mortgage and his son gives him £200 a month 'rent'. Obviously if we did income from property sched it would result in a loss, and he can hardly be described as charging a commercial rent, there is no formal rent agreement. I can't see much point in registering him, what does anyone think?
21st Jul 2011 12:06