Hello. The best way would depend on how well your brother is able to live on his own. If he can, the house can be left to you with a lifetime interest for your brother. However, the part about the inheritance tax may be an issue as inheritance tax is currently payable in any part of the estate over £325,000.00 at 40% and if the property is the only asset, then it may need to be sold or funds raised some way for the payment of inheritance tax. The answer would be more clear if I knew whether your father had any other assets. If he has sufficient to pay the IHT (inheritance tax) then the above situation where your brother can continue to live in the property would work.
Thanks for the reply
Thanks for the reply - the house is his only assets so it would seem I would have to pay the inheritance tax on any amount over 325000. I will suggest to my father that he has the house valued and that we speak to my brothers team about the likelihood of him being allowed to live on his own when my father dies