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Basically..

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Comments

  • thriftymomma
    thriftymomma Posts: 1,107 Forumite
    A standing order to your sister will do it.
    Got Halifax Classic to reduce my interest rate by 5% woohoo - 10/06/08 Thanks MSE!
    Another 3% shaved off 10/12/08
    ANOTHER 4 % June 09:beer:
  • Bob_the_Saver
    Bob_the_Saver Posts: 5,610 Forumite
    thriftymomma wrote: »
    A standing order to your sister will do it.

    Err, I think things might have moved on a little. Regards Bob the Saver
  • tom_smith_2
    tom_smith_2 Posts: 44 Forumite
    Look..

    My sister gets a loan for £4000

    she give me the £4000

    she will have to pay the bank back £100 a month for the loan


    I then pay her £105 a month.. or £110

    Does that make more sense?
  • tom_smith_2
    tom_smith_2 Posts: 44 Forumite
    I will be getting a full time job in like 2 years btw..

    please dont say wait for 2 years
  • Bob_the_Saver
    Bob_the_Saver Posts: 5,610 Forumite
    edited 3 September 2009 at 9:22AM
    tom_smith wrote: »
    Look..

    My sister gets a loan for £4000

    she give me the £4000

    she will have to pay the bank back £100 a month for the loan


    I then pay her £105 a month.. or £110

    Does that make more sense?


    Leaving you just under £44 per week to live on according
    to your own figures:rolleyes: and you say in a previous post you spend
    £40 a month on your phone. Er how old are you?
  • tom_smith_2
    tom_smith_2 Posts: 44 Forumite
    Yeah

    Thats fine


    So can I have some answers like which bank to go to.. Natwest or Halifax.. and how easy this will be.. as I dont want my sis to be loosing money.. but I cant see that happenin....??
  • Bob_the_Saver
    Bob_the_Saver Posts: 5,610 Forumite
    With those figures I'd go straight to Coutts.
  • davetrousers
    davetrousers Posts: 5,862 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Does you sister know of your plan? Is she prepared to keep paying the loan if you decide not to pay her?

    Have you looked at any websites to give you an idea of monthly payment amounts on a £4k loan?
    .....

  • tom_smith_2
    tom_smith_2 Posts: 44 Forumite
    davetrousers wrote: »
    Does you sister know of your plan? Is she prepared to keep paying the loan if you decide not to pay her?

    Have you looked at any websites to give you an idea of monthly payment amounts on a £4k loan?


    But we would of set up something with the bank where £100 comes out my account..

    oops.. didnt say this..

    I want the £100 to come out of mine automatically..??
  • tom_smith_2
    tom_smith_2 Posts: 44 Forumite
    Natwest looks the best

    £96.55 a month over 5yrs £4,000 16.8% = £5,793.00
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