Is a trustee of a life interest trust, who is a remainderman, eligible for the Government’s Equity Loan under the Government’s Help To Buy Schem?
I have a client who is considering whether to take on the role of co-trustee of his late mother’s Will Trust, which leaves a life interest to the surviving spouse (who is living there,) and then to my client and his sister.
If he becomes a trustee, does it mean that for the purposes of the Government scheme he is deemed to already own property, even though there is no immediate right to reside or to sell the property?
Any thoughts about where I could refer my client for expert advice?
Hazel Jones
Pictons Solicitors LLP)