http://news.bbc.co.uk/1/hi/business/5277838.stm
A mortgage which allows parents to leave their homes and home loans to their children has been launched by the Kent Reliance Building Society.
The "Inter-generational mortgage" would allow homeowners to take out an interest-only mortgage - and pass on both repayments and home when they die.
But the beneficiary would be left with a large debt, since only the interest on the loan would be paid off.
Some experts suggest that the mortgage could cut inheritance tax bills.
I can see this being a big hit and combined with uncontrolled immigration lead to a never ending property boom.
Buy the house of your dreams that you could never afford to pay off and then leave all the debt to your "lucky" children.
A mortgage which allows parents to leave their homes and home loans to their children has been launched by the Kent Reliance Building Society.
The "Inter-generational mortgage" would allow homeowners to take out an interest-only mortgage - and pass on both repayments and home when they die.
But the beneficiary would be left with a large debt, since only the interest on the loan would be paid off.
Some experts suggest that the mortgage could cut inheritance tax bills.
I can see this being a big hit and combined with uncontrolled immigration lead to a never ending property boom.
Buy the house of your dreams that you could never afford to pay off and then leave all the debt to your "lucky" children.
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