Loaning £20K.

mollycat

RichGold wrote: »

No, what happened here was you posted on a public forum and asked for advice. The advice you received wasn't to your liking. How is that our fault? If you don't want advice from the public, don't post on a public forum. With that in mind, I think I'd have been asking a solicitor regarding my £20k, not a bunch of barstool preachers on a forum.

Anyway, best of luck with it, you'll need it.

Thanks for your best wishes.

Dont think i've expressed any disatisfaction or ingratitude with the advice in this thread though, have I?

Nor have i attributed any "fault" to anyone.

My last post was merely defending myself against the charge of wasting others time.

Sambucus_Nigra

To be fair, the OP is a grown up and can make those decisions for themselves; she asked a question and now has the answer. There is no need to be rude when you don't know the circumstances.

talana

Can I simply ask you then what your friend intends to say when applying for the mortgage?
- the truth, that her deposit derives from a loan? Then goodbye mortgage
- a lie, that it's a gift or her savings all along? Then lying in a mortgage application = fraud

In all the thread above, you haven't addressed this issue.
If you want to lend the money, then lend the money. But that question won't go away.

sharpy2010

Am I the only one who can see that the OP has asked a question, and got responses about questions she didn't ask?

Ok, most people are in agreement that lending to friends does not work. That is not what the OP asked.

We do not know if the OP can afford to lose 20k or not, and not be too worried, but in my mind anyone who has 20k to lend, probably has a bit more than that saved up.

Therefore, I think it might be an idea to answer the OP's two questions, and nothing further. Unfortunately I don't know the correct answers to those questions, but what I do know is that the OP is capable of making her own decisions as to who she lends to.

mollycat

talana wrote: »

Can I simply ask you then what your friend intends to say when applying for the mortgage?
- the truth, that her deposit derives from a loan? Then goodbye mortgage
- a lie, that it's a gift or her savings all along? Then lying in a mortgage application = fraud

In all the thread above, you haven't addressed this issue.
If you want to lend the money, then lend the money. But that question won't go away.

Thanks for your comment. It's a valid point.

Im leaving this thread alone now.

Thanks to all who contributed, its very much appreciated.

I'm would be quite happy to re-post in 18 months time when our agreement is over and i have a £2500 return on my investment (with tax to be paid ), but i appreciate that would probably not be noteworthy.

Thanks very much for all your time.

sharpy2010

mollycat wrote: »

i appreciate that would probably not be noteworthy.

Thanks very much for all your time.

It would, I'd be very interested to hear that not all loans to friends go down the pan.

Do let us know

LovelyLeeds

mollycat wrote: »

No; I'll post when I choose to, permission from yourself is not required.

Freewill is at play here, if you have responded to my thread it is because you have chosen to. Therefore it is not me that has wasted your time, but yourself.

How smug and arrogant. Posters were just trying to help you with the information given - that was all.

DCFC79

sharpy2010 wrote: »

Am I the only one who can see that the OP has asked a question, and got responses about questions she didn't ask?

Ok, most people are in agreement that lending to friends does not work. That is not what the OP asked.

yes i agree she got responses she wasnt after but if i were to ask the question id rather people point out the pit falls of lending to friends then i would reconsider my response to said friend.

chesky369

mollycat wrote: »

Thanks for your comment. It's a valid point.

Im leaving this thread alone now.

The OP has explicitly chosen not to address the validity of her friend's application for a mortgage, which tells us where she stands on the morality of the issue.

She's chosen her own path - I suggest we all simply let her get on with it.

talana

LovelyLeeds wrote: »

How smug and arrogant. Posters were just trying to help you with the information given - that was all.

Sorry, don't agree.
I don't recommend the OPs course of action, but she's handled herself well by not overreacting to some of the comments. If she asks a question and chooses not to divulge other details then that's her prerogative

It's some others who are coming across now as smug and reactionary I'm afraid.