Best Friend Loan for Mortgage

FlorayG

dazedconfused01 said:

Wow! I’m genuinely surprised with most responses being so negative….surely there must be instances where this has worked out due to trust and goodwill winning over negative thinking? 

There probably are but we don't hear about those

MEM62

dazedconfused01 said:

Wow! I’m genuinely surprised with most responses being so negative….

There is a reason for that.

dazedconfused01 said:

surely there must be instances where this has worked out due to trust and goodwill winning over negative thinking? 

Of course there will be cases where this has worked out.  However there will be many cases where it has not and you are not likely to find many contributors to this forum who will encourage the OP to take a huge risk with £150K of their money. (Based on goodwill?)  Negative thinking has nothing to do with it.  Prudent thinking however, would prevent the OP from even considering it.  

DullGreyGuy

dazedconfused01 said:

Wow! I’m genuinely surprised with most responses being so negative….surely there must be instances where this has worked out due to trust and goodwill winning over negative thinking? 

There are examples of both cases where its worked and cases where its destroyed friendships/family and the person has lost their money. There are plenty of threads on here from people saying friends/family owe them money and they cannot recover it. 

I wouldn't say dont do it but would say only lend as much as you are willing to write off as a gift. If you arent comfortable with £120k being a gift to your friend then dont lend them that much.