Money Moral Dilemma: Should I lend £20,000 to my in-debt in-laws and risk not getting it back?

frosted_north

No. Don't lend.

Not only will you never see it again, you're making their own situation even worse. You're helping them by _not_ lending the money 

Skier_G

A hard "No" to lending them money,  but do you want to buy the house you are currently "renting" from them? If so, is their mortgage under water? if not, how much is the gap between their mortgage and the fair market value of the house and can you bridge it with the 20K you have? Will they help you out with a "loan" for any gap in exchange for you taking the mortgage and the 20K?  Be creative, but don't give them an unsecured loan - ever.

Rocketdogroya

No. Just buy the house you live in with the money, takes away part of the stress of selling a house for them and then there is no conflict either. They are adults and he gave up his job knowing his situation. I understand burning out but dont quit outright go on sick if his mental health was that bad, get your ducks in a row. then re-access, too late to advise that now I know. Adults know their own responsibilities ITRW and shouln't accept your inheritance. Most parents want to give to their kids not take from them. so do they even want this help? 

ripongrammargirl

From my point of view why don’t you buy the house from them that you are paying the mortgage on as effectively it’s your property! This would then give them 2 properties left. Why does anybody need more than one house??? If they can’t afford it then it’s time to sell and look at their rather silly life choices. Seems quite odd because they are older than you but don’t appear to have sorted their finances over the years. Do not lend/give them any money but offer to buy the property you are living in and paying for. This would be a great option as you get the house you are paying for, they have one less property and no estate agent fees etc would be needed. All seems a very odd set of circumstances and I think they need a radical wake up call. He needs to go back to work and they need to sell up and think about the mess they appear to have made with their finances. Do not give them any cash. 

2702

No move out ASAP as  the longer you live in their property the worse it will get. They will want you to stay to keep paying the mortgage. If you give them your deposit you will be stuck for years.
Stick to your guns. Good luck

cheerful

Landlords who own three properties borrowing money from a couple who don't even own their own home?  I think the answer is obvious.

Jm2207

They own 3 properties I'd suggested they sell 2

Jodiebombodie

A definite no. They own 3 properties 🏠🏠🏠 💰💰💰

Nourse79

As judge Judy said never lend money to friends and family as you will end up being the bad guy if it turns sour. 

CapeTown

£20k in the big scheme of things is going to make !!!!!! all difference to their situation.  I would say no to lending.  You are not a bank. They have been incredibly stupid. Both of them can work I assume.