Guardian link
Seemed like this was inevitable. But I can't understand how it can work?
Usually you get 3 generations alive at once and for most 2 will be needing separate housing simultaneously.
Therefore how does a parent pass this mortgage down? Thier kids would ideally already be owning with mortgage by time the mortgage is passed?
I can't even wrap my head around how this would work vs typical inheritance? Unless there's some inheritance tax break etc?
If someone can explain how this is of ANY benefit. Let me know!
I suspect in theory you'd just die not completing your ownership. So effectively it's not multi generational. It just allows you to borrow more and never pay it off?
Seemed like this was inevitable. But I can't understand how it can work?
Usually you get 3 generations alive at once and for most 2 will be needing separate housing simultaneously.
Therefore how does a parent pass this mortgage down? Thier kids would ideally already be owning with mortgage by time the mortgage is passed?
I can't even wrap my head around how this would work vs typical inheritance? Unless there's some inheritance tax break etc?
If someone can explain how this is of ANY benefit. Let me know!
I suspect in theory you'd just die not completing your ownership. So effectively it's not multi generational. It just allows you to borrow more and never pay it off?