Interest on family loan!

David_Aston

I do hope you weren't supposed to be paying £400 per month for five years Op, else your dear old Mom will be expecting 24 grand!:)

redpete

andyfromotley wrote: »

If i lent my children money, (unlikely as they are 13 and 9!!) i would be mortified if they felt that they should pay me interest. I'm not a bank, they are my children.
Your mum has made it clear that she doesn't want interest, hows about a big bunch of flowers, a meal out and a heartfelt thank you telling her how much having the loan helped you?
Don't get me wrong, your intention is great but perhaps unnecessary?

If a parent loaned me some money I would be mortified that they should lose out on interest they would otherwise earn on that money. I am not a sponger, they are my parent.

andyfromotley

redpete wrote: »

If a parent loaned me some money I would be mortified that they should lose out on interest they would otherwise earn on that money. I am not a sponger, they are my parent.

Like i said, each to their own.