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Hi John! I hope that you don't mind me answering this again. The advantages are that no-one can ever chase the person who has gifted the funds to the trust as they cannot ask for it back and so the money is protected from attack. The downside is that if you want to get the funds back...

Hi John No, the loan from the bank is not an asset to your wife. It is a liability and so the creditors would have to compete with the bank for any money or assets that your wife has. This should scare them off, not attract them. Dale

Hiya John No, I do not think you will have a problem at all in that regard. The tax office uses the title ownership as the basis for who can claim the expenses regardless of who is on the loan documentation. As for the legal issues . . . probably best to seek advice from a solicitor...