A client had built up a small portfolio of rental properties and was now emigrating to Australia. He didn’t want to manage the properties from abroad, and another factor was that his lender had offered to reduce the mortgages on several of the properties if they were redeemed.
He didn’t have time to arrange several sales to take advantage of the discounts, but his father was also a buy-to-let investor. We arranged for the properties to be sold from son to father with no deposits required, allowing the mortgages to be redeemed – saving £50,000. As the vendor was moving overseas, there was no Capital Gains Tax to pay either.