My partner and I have been together for over 2 years. We don't yet live together. He's planning to buy a house shortly.
I own my own home, am fairly comfortably off, I earn an ok amount but I am lucky to have a fair bit in savings (£33k). My partner has a much better job (although he only started it in the New Year) and some savings, about £10k, but also £8k owed on credit cards etc. To buy a house, he could use his savings, however the mortgage providers have said that they'd take his existing 'debt' into account - and in doing so it would mean he'd only be able to borrow about £40k less (and therefore couldn't afford a property big enough for him and his DC).
So, we talked about it, and if I lend him £20-25k, he will be able to use this as a deposit (having used his own savings to clear the credit cards). His current credit cards have a total limit of £45k, so he would have no problem borrowing back the money thereafter to reimburse me, as soon as the house purchase was completed. His mortgage repayments even if he borrows the maximum he can, will be £200 less than his rent now, so he has no concerns about affording it.
WWYD if you were me?
Please or to access all these features
Please
or
to access all these features
AIBU?
to consider lending this money?
374 replies
metalmickie · 07/03/2016 21:05
OP posts:
Bitchrestingface ·
07/03/2016 21:12
This reply has been deleted
Message withdrawn at poster's request.
SnowBallsAreHere ·
07/03/2016 21:14
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Message withdrawn at poster's request.
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