Cash gift from Mum in Luxembourg

My mum wants to gift me £350,000 from her euro account in Luxembourg. She is 81 and is a UK national but has lived in Europe - Belgium and Luxembourg for the last 30 years. I intend to use the gift to buy a house in the UK. I am on the understanding that she can gift me an unlimited amount and there is no tax to pay on that unless it earns interest or dividends. Am I correct? Is it okay for me to use this money to buy myself a house? If she lives in this house , until I need it, can she do so without paying rent. Thank you very much.

Hi,
You are correct in relation to the gift. for the house, if it is in your name then she doesnt need to pay rent. you will however need to consider if this falls under git without reservation for IHT purposes if she is then back in the UK.
How Inheritance Tax works: thresholds, rules and allowances
Whilst she is not passing on a home, the money is buying a home so she is stll benefiting from it by living in it rent free.
Thank you.