Help...cHEAPEST way to buy property of dad

[smohamm527]

Hi Ladies and Gents,

Please can someone give me some advice,

i am a first time buyer who dosent know anything about properties.

My father owns a property which he currently rents out. He is willing to sell to me. What is the best way to purchase the property?

For example, what is gifting the property to me?

or can he sell the property to me cheaper than market value so my mortgage repayments are lower.....i can pay the extra separatley to my father?

i am looking of ways to keep costs low eg fees and ways to keep the repyaments low

Thanks in advance for any advice

Sak

[Mattcreed]

I suggest consulting a solicitor

[brian]

Sak, you need to speak with an accountant because gifting is going to raise various tax flags.