loan to father

DarnIt_3

Your money would be safe in a house.....IF your dad signs the house over to you! Let him live in it rent free until he passes and then the house would be yours to do as you please. Your 35k is going to gain as much interest in a bank account as it would in bricks and morter! This way you are both happy.
So get yourself to a solicitor officially buy the house off your father and then place a tenacy agreement upon the property...that way your father is safe and so are you!

ashaput

DarnIt wrote: »

Your money would be safe in a house.....IF your dad signs the house over to you! Let him live in it rent free until he passes and then the house would be yours to do as you please.

if I were you I would go with this advice. Well actually my neighbor had ever been in the same boat as you, and she took this way and both she and her parents get the win-win solution, I mean both are satisfied with the result.

rhcp

bmw001 wrote: »

With my father being nearly 80, I dont think the bank will allow him to remortgage, as you can imagine he is getting quite stressed about it all, to top it all off, his wife has just left him!

Is this going to create a problem? I assume that as they are married half the house is hers, so she'll be looking to protect her interests.