£15000 loan but just for a few months....

warwicktiger

Has she asked the executer of the will for an interim payment? Depending on what is in the estate the executor could already be sitting on a pile of cash waiting to sort out the last few items.

yorkshirecath

warwicktiger wrote: »

Has she asked the executer of the will for an interim payment? Depending on what is in the estate the executor could already be sitting on a pile of cash waiting to sort out the last few items.

It's not really possible because the money is coming from the sale of a house so until that is completed the money can't be released.

Vikipollard

Ah, so not the kind of inheritance I thought, as it depends on the sale of another property.

Good luck with sorting it all out

yorkshirecath

If a loan states a repayment fee of 1 months interest and the interest over 60 months is say £2500 does that mean 1 months interest is £41.66???? Or am i doing it totally wrong lol

Conrad

I deal with cases whereby we organise a short term loan from a private funder, SECURED on the property to be inherited. But the rates are high. On a £15k advance you would make no monthly payments, but at the end of say 6 months the £15k is returned (on sale of the property) with an additional £8000 or so. It's all totaly non - status, but more aimed at those who don't have an income (hence why no monthly payments).

Anyhoo, OP just find the lowesr rate - perhaps HSBC or a small local Building Society or the Co - Op.

BEWARE - I see many people come unstuck when lending to relatives. Saw an example just this week where Mum and Daughter have completely fallen out as the Daughter stopped paying because she claims she had sudden out the blue vets bills.

yorkshirecath

Thanks Conrad, my stepdaughter is very trustworthy but my husband is the executor of the will so he will make sure he gets the money don't you worry lol