Hi guys.
I'm new here and have a situation which will arise in the near future and just want to get some thoughts on it.
Currently I own a property with a mate, my share of the equity is about 35k. In the summer I'm planning on moving in with my girlfriend who has 2 kids but this will mean moving 30 miles from where i currently live so the property i own will be rented out.
The girlfriend has 2 kids both under 10 and so gets CTC. What i want to know is will the amount of equity i currently have in my house affect the CTC's that she gets when we move in together. If so and i were to sell the property rather than to rent it out then would any profit i make go against us? Also could i use some of the profits to clear other debts so reducing the amount of 'profit' i would make?
Hope someone can throw some light on this as it's proving to be a bit of a minefield!
Cheers.
I'm new here and have a situation which will arise in the near future and just want to get some thoughts on it.
Currently I own a property with a mate, my share of the equity is about 35k. In the summer I'm planning on moving in with my girlfriend who has 2 kids but this will mean moving 30 miles from where i currently live so the property i own will be rented out.
The girlfriend has 2 kids both under 10 and so gets CTC. What i want to know is will the amount of equity i currently have in my house affect the CTC's that she gets when we move in together. If so and i were to sell the property rather than to rent it out then would any profit i make go against us? Also could i use some of the profits to clear other debts so reducing the amount of 'profit' i would make?
Hope someone can throw some light on this as it's proving to be a bit of a minefield!
Cheers.