WWYD? Request to loan in-laws money

Pollycat

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https://forums.moneysavingexpert.com/discussion/comment/82025434#Comment_82025434

I doubt he'll listen.

He's gone behind your back.

I did say up-thread:

"I wish you luck.

I think you might need it".

I think you'll definitely need it.

I'm not pinning anything on you.

It just sounds to me that your husband will do whatever it takes to help his parents, disregarding what you and your child need.

Sea_Shell

https://forums.moneysavingexpert.com/discussion/comment/82025587#Comment_82025587

Sorry to hear that things have escalated.

This isn't such a daft idea. Assuming the money is easy to replace, in due course (and you can afford the interest on the larger balance, if not offset elsewhere)

You'll be saving him from a stupid decision, and protecting your family.

If this was a "scam" he was being lured into, you'd want to step in.

beanielou

Not a good turn of events for you.

doodling

Hi,

https://forums.moneysavingexpert.com/discussion/comment/82025561#Comment_82025561

Is that really true, or will whoever does it need to confirm that the other borrower agrees to the borrowing? Incorrectly confirming that would be fraud.

In the case of a joint mortgage it is likely that there will be a means of unilaterally informing the lender that separate consent from all joint borrowers is required for further borrowing. It may also be possible to instruct the lender to withdraw the possibility of re-drawing the repaid borrowing although that might affect your future plans.

Any lender which lends money jointly against the express wishes of one of the joint borrowers is setting themselves up for a very difficult time so there will be a way of stopping the use of mortgage draw down if you choose. Of course, that doesn't stop DH using any other joint assets you might have.