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10 February 2009

i have moved out of my home and in with my partner. But my daughter is continuing to live in the family home.

i own my family home which i have lived in for for over 20 years. i purchased it under the right to buy and my mortgage is finished in 5 years time. i only owe £7000. However i have now moved into my partners home (for which he is the sole owner) and i have left my 24 year old daughter to live in the family home. At some stage my partner and i wish to but a home together. Would i be better off 1. selling my family home and putting some of the money into the joint property, and what would i have to pay tax wise etc do this? 2. rent out my family home and buy another property with my partner? what would this cost and if i then decided to sell the house would i pay a large amount of tax due to having two homes what is the best thing moneywise for me to do? can anyone help?

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