Helping out family

margaretclare

What the valuation was a year ago is completely irrelevant. It's what it's valued at now that counts. The so-called 'credit crunch' started last August, in May house prices fell by 2.5%, that was on top of what they'd fallen in the last few months, and apparently this month they are set to fall another 2.5% (according to the experts). Whatever something is worth is only what someone else is prepared to pay for it, and around here nothing is moving. Our neighbours had their 2-bed bungalow on the market originally for £220K (which we thought was wildly optimistic!) and in spite of changing agents and dropping the price, they've had few viewers, and have now taken it off the market altogether. Other properties in this street (a 90% owner-occupier area) have been advertised to let.

So whatever the ex says, that's the situation and he may not like it, but he's going to have to lump it. Refusing to agree because he doesn't like the price - he's throwing his teddy out of the pram, but it won't do him a scrap of good.

margaretclare

home_alone wrote: »

I gave my son and daughter each 100K to upgrade their homes, I also gave them 34K and 17 k to pay off their mortgages, the extras they are paying me back by D/D as both my wife and I dearly love our 2 kids I do not have a problem with giving them, as someone mentioned before a pre inheritance. Whatever happens in the future, marriage, partners etc will I am sure cause some headaches but looking on the bright side for now everything is great.

gary

This is the kind of thing that I would do if I had that sort of money, but I would never again lend.

home_alone

I gave my grandson a 99p matchbox toy this morning he was over the moon got lots of kisses and cuddles so its not all about money that makes the world go round.

gary

Mrs_pbradley936

An update for anyone interested. The Housing Association will not allow a charge to be put on the house by anyone other than a High Street Lender! We have it in writing via the solicitor and it is all to do with making sure that poorer people are at the top of the queue for help and those able to privately finance not being eligible for shared ownership. They are being very helpful and have suggested two ways around this problem. The first being that we help them buy the housing association out - that way the are not involved anymore and we can arrange any finances however we like. The second is for my son and his girlfriend to arrange a transfer of equity with the Nationwide (who the mortgage is with) so that Nationwide retain the charge on the house. We have opted for the 2nd option and they have an appointment to see Nationwide this week.

missile

It is what feels right for you that is important. I am pleased to hear it worked out for you and thanks for letting us know.