Sensitive issue re family finances

cariad

Hello,
not sure if this is right forum but here goes....

My older brother and his wife took out a loan (using house as guarantee) - they are now getting divorced
The loan payments continue to be paid monthly though- confirmed by my brother and their son)

I,ve been told by their son that they have financial problems

My brother is going to move into rented accomodation but has asked if he could :

1. use my home as a mail drop address

and

2. also register my home as his business address



Question from my husband and I- we have never had any debts and we love my brother very much and are supporting him as best we can but are concerned if we agree to his requests - COuld this have any negative effect on our home ie could it effect our credit ratings?


Is there any one able to give us advice re these 2 requests ?

This is a very difficult time for my brother so I need to be sensitive.

All advice gratefully received

Many thanks

Beast

Credit ratings/reports are linked by individual and not by address, so him having mail delivered to your address will have no bearing on your own financial credibility.

cariad

Thankyou Beast

would you know about the second part of my question?

jonesMUFCforever

Second part - if the business owes money then you could get a lot of mail and possibly debt collectors knocking at your door.

Personally I would not do it.

welshmoneylover

I don't think I'd be tempted to do it either.

I mean, if he is kosher, why can't he use his own address?

pwally2

i may be wrong but was under the impression your mortgage company would need to be informed if a business was being run form your address. in my opinion i wouldnt do it not worth risk.

Clive_Woody

pwally2 wrote: »

i may be wrong but was under the impression your mortgage company would need to be informed if a business was being run form your address. in my opinion i wouldnt do it not worth risk.

Also home insurance asks if your home is a business address and may be affected (or similar wording).