He is receiving UC, but providers like mysafehome use a government scheme which specifically allows them to obtain interest only mortgages for disabled people who cant work. Something you cant get going down the high street route.
They can also then receive interest relief for cases like this which covers most of the 'mortgage repayment'. Somethung I hadn't specifically heard of before to be honest.
Then if property is sold, you have to repay the relief you obtained via the any capital you may had in the property.
(Well that's my basic understanding of it at this early stage)
I agree. I think the push of the legislation in the private sector will just drive out most of those (for want of a better word) 'fake' contractors. And those who truly are in contracts inside and outside IR35 will take on and move between contracts regardless if in or out. As long as the net pay suffices of course.
My answers
Regarding the last part.
He is receiving UC, but providers like mysafehome use a government scheme which specifically allows them to obtain interest only mortgages for disabled people who cant work. Something you cant get going down the high street route.
They can also then receive interest relief for cases like this which covers most of the 'mortgage repayment'. Somethung I hadn't specifically heard of before to be honest.
Then if property is sold, you have to repay the relief you obtained via the any capital you may had in the property.
(Well that's my basic understanding of it at this early stage)
Yeah, seems like a trust is the best route to go down.
Thanks.
I agree. I think the push of the legislation in the private sector will just drive out most of those (for want of a better word) 'fake' contractors. And those who truly are in contracts inside and outside IR35 will take on and move between contracts regardless if in or out. As long as the net pay suffices of course.