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Your folks don't have to sell it at market value. Depends how much they love you...
Stamp duty does get paid at market value and there could be a big inheritance tax bill though.
jellybaby-
Your folks don't have to sell it at market value. Depends how much they love you..
They sold it 11 years ago, a few years after I put myself out of the London housing market by moving to the Fens and buying a house with a double garage rather than a one bedroom flat somewhere in Zone Lots. IHT bill is still going to be a bitch though. I'd rather my father just spent it all, but he seems reluctant to do so. Still, taxation is the price of civilization so when the time comes we'll cough up.
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Ha my dad must not love me at all we have paid market value and then some
Brommers
Camel_toe
Well, that's continuity for you. I suspect the chances of me buying my old family home (4 years old to 31, with a few breaks) are fairly slim. Not sure I can rustle up the £2m required, even if I dig around the back of the sofa and give the money tree a good shaking.