Would you ask for a loan from family

belfastgirl23

If you're lucky the prices might drop??

Broken_hearted

I would ask for help towards the deposit.

Merlot

I wouldn't ask, you don't have to move.

You have to stand on your own two feet and mend and make do in life, no one said it was easy.

Merlot.x.

Pssst

Ther best place to go for a loan is a bank or building society. I am not in favour of parents lending great wadges of cash to siblings but thats just a personal view. It causes un-necessary problems,tensions and family squabbles.

jackomdj

I would ask, but in your asking conversation say that you would set up a monthly payment to them, pay back an element of interest & also explain why you want the money (ie school for your DS).

I am fortunate enough to have had a couple of loans from my parents & always paid them back with interest. My sister on the other hand has always taken a long time to pay it back & moaned about not having it some months (but had the money to do other things).

Nicky

clairehi

Halia, I think you have to sit down and have a good talk with your parents here! Your parents may think that your sibling needs help to get onto the housing ladder and that you are lucky you already have your own place and dont need to scrape together a deposit.

Make sure they understand what you have been/are going through and why you and your DS could really use some extra help from them here.

on another note, in the current housing market, have you looked at the costs of renting a house near the school, and selling or renting your existing place?

melancholly

if you ask for a loan with a specified interest rate and repayment plan, then maybe they'll be more receptive? that way, with paperwork, they'll realise it really is a loan and not a handout.

as it goes, i think unequal financial help is quite common in families. it certainly drives me nuts in my family but since there's nothing i could say that won't cause a major rift, i just simmer away and whinge to my OH!

halia

Merlot wrote: »

I wouldn't ask, you don't have to move.

You have to stand on your own two feet and mend and make do in life, no one said it was easy.

Merlot.x.

ah then I'll turn up and tell them they shouldnt' give £16k to my sibling either!

I suppouse I prefer to think that family is family for life, not just when you're a kid and that they can and do help you out. If I have to stand on my own two feet then I guess my mom and dad shouldn't look for help from me when they get older either?

Thanks for other POV, I'm scared stiff of asking. I've never asked for cash from my parents but I was a bit taken aback when my siblign calmly announced that they are buying a house because mom and dad are lending them the deposit. I would have loved a £16k loan and a nice 3bed semi with garage and garden for my FTB house.

I'm also a bit :mad: because my sibling and fiancee have the same amount of cash coming in as we do, but they dont' have a kid with SN eating up spare money.

pukkamum

Oh Halia i bet your blood is really boiling i know mine would be, but i think you should maybe see it from their point of view, because you never asked they probably think you have never needed it , so wouldn't even offer it. I would tell them the situation you are in and just "say look i hate to ask and there will be no hard feelings if you say no but......" You may have to face that having lent your sister that much they don't have any left over, and if this happens i would just smile and say never mind, it's not worth falling out over. It is also not your sisters fault, she's obviously cheekier than you and just asked outright!

elisamoose

I wonder at what age some people grow up and become the parents being asked rather than doing the asking!
I would not dream of asking parents for a loan unless I was destitute.