future value of historic loan

damole

I loaned someone some money abour 15 years ago and would like to know what would be the value of that money now if it  had been deoposited in a regular savings account.  It doesn't need to be exact just a ball park figure.  Where would I get the historic interest rates?  I have already used an online RPI calulator to find the current value based on inflation.

CliveOfIndia

You can find historical BOE base rates here: https://www.bankofengland.co.uk/boeapps/database/Bank-Rate.asp

Of course, this doesn't provide a direct correlation to what rates a particular financial institution would pay/charge, but it'll give you a start.  Most lenders will calculate their interest rates as BOE base rate + x%, and will offer different rates depending on whether you're borrowing or saving.

MalMonroe

Hi, just wondering if the loan has been repaid now.

And whether or not you are intending to charge the lender interest retrospectively? If so, have you told them?

Otherwise, there wouldn't seem to be much point in asking about this.

damole

The loan was actually to my parents for their loft conversion and now my dad is making a new will since my mum past away a few years ago.  My dad wanted to start paying now but I said just to leave it in the will as I don't need the money right now and he might.

macman

Gifting it now might be advantageous if IHT is going to be a factor in his eventual estate. He will need to do it 7 years before death if so.