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Loaning money to family members to invest in P/Bonds

col.escargot · 2021-03-25 19:07:00

Hi MSE fans ! I'm not sure where I should have posted this question, as it falls across a few categories, but I hope you will forgive me and can give me some advice :) I've just retired from my job and wanted to pay off my mortgage from my pension lump-sum. But this will cost me nearly £2k in early repayment charges (which…

Comments

Yorkshire_Pud Posts: 1,980 Forumite

26 March 2021 at 11:51PM

Mad idea. If one of the relatives wins a million pounds they just hand it over to you with a smile!?

It’s not fair on the relative to be a banker for you, you put temptation in their way that you are the cause of but then you blame them if they renege.
It sounds dodgy anyway.

You can’t face paying £2000 fee but happy to risk putting multiple £50000 in relatives accounts?

One of the dafter ‘ideas’ I’ve read on here.

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