We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Lending to a family member

2»

Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    downshifter wrote: »
    It will be for around £7500 and I want to arrange for him to give me £1k 'deposit' and pay the rest in instalments.

    Surely better to agree a fixed repayment schedule.
  • Foxy-Stoat_3
    Foxy-Stoat_3 Posts: 2,980 Forumite
    Thrugelmir wrote: »
    Surely better to agree a fixed repayment schedule.

    Or just loan him £6500 and dont ask for the £1000 back!
    "Dream World" by The B Sharps....describes a lot of the posts in the Loans and Mortgage sections !!!
  • dealer_wins
    dealer_wins Posts: 7,334 Forumite
    d70cw6 wrote: »
    Why not just gift it to them. Tell them if they want to repay it, then that would be appreciated, but don't expect or demand it back.

    This is the only way to "lend" to family and friends, that preserves the relationship in the event of non payment.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 354.4K Banking & Borrowing
  • 254.4K Reduce Debt & Boost Income
  • 455.4K Spending & Discounts
  • 247.3K Work, Benefits & Business
  • 604.1K Mortgages, Homes & Bills
  • 178.4K Life & Family
  • 261.6K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture