Mums partner 6 yrs want's her to lend him all her life saving for a loan to buy larger house she won't be on deed for.

I disagree @martinisforeveryone marriage isn’t always the best option when children and assets from previous relationships are in play because it is too rigid it simply means everything is jointly split.

BUT there are things that can and should be done to make sure everyone is protected and that is what should be done here - legal advice taken

It would still mean her money wouldn’t be available to her if she needed it. Presumably there’s a reason it isn’t currently invested in property.

Never lend what you can’t afford to lose. I’d want to be named on the deeds even if it’s only temporarily till he repays the loan

Hi OP,
I'm wondering why you haven't passed comment on the people that have suggested your mum should secure her money by getting a charge registered on the property for sale?

It's not simply a case of lend the money or don't lend- there is a middle ground of lend but safeguard her money.

A charge against the property for sale would ensure the solicitor gives your mum her money back - directly - before her partner is given any remaining monies from the house sale. That is assuming equity in the property covers any mortgage, your mum's loan and there is money remaining.

A charge is what a mortgage company holds against a property and paying it back isn't optional the solicitor is obliged to. If there is already a mortgage against the property they would hold the first charge and your mum would hold a second charge - next in line for repayment after the mortgage.

If your mums partner died before the house was sold the charge would still require her to be paid back when the house was sold /when her partners estate was sorted out. The estate would owe the debt and it would remain secured against the house - like if you die holding a mortgage it still needs to be settled.

No no and NO!!

They share a child together but he won't get married? Tells you pretty much what you need to know about how your mother should protect herself and their child, especially as they haven't discussed and been open about their Wills.

At the moment @Moniworries your mother has a roof over her head and a nest egg to fall back on should she need it. So the DP manages to use her money to buy the bigger house, they move in, but his existing house fails to sell. Meanwhile something happens, the relationship breaks down, one or the other of them dies. DM's money is all tied up. If she's the one left alone, how does she cope, where do they live longer term? These are basic things that should be sorted and accounted for legally.

Your mother doesn't need advice from you or the hive mind of Mumsnet, she needs to consult a solicitor about a myriad of issues.

Absolutely NOT
NEVER
NO

Call me old fashioned, call me sexist but I don’t believe in giving men money (even as a loan) and I would be permanently put off a man who even asked.

Also basic rule if you are going to lend money
assume you won’t get it back. Can your mom afford to lose it?

He can get a bridging loan.

Your mum needs to get legal advice

From experience the bank would probably want your mum to declare this as a gift, not a loan for him to use this equity as his mortgage deposit (speaking as someone who's parents gifted some money for house deposit). So absolutely not.

Your mum will make a great candidate for a Netflix documentary if she agrees to this.

When we lent money to our ds we put a charge on the property.
It can’t then be sold without paying the loan back first.
Your dm need to see a good solicitor.

You only gamble what you can comfortably afford to lose… and you and your mum know it’s a gamble

“I do think he'll look after my brother though.”

😳

CHRIST NO!!!!!

The easiest way for them to protect her money would be to get married. Registry office, couple of hundred quid, 20 mins. No need to get a solicitor involved.

They don’t get married and she will need a loan agreement, independent legal advice, possibly a charge on the new property.

Is he getting a mortgage to buy the property? They won’t like a huge loan like that against “their” property.

If she’s not on the deeds and he dies, the house (and her money) will go to his NOK. Who is that? Is he still married to his exW?

Why isn’t he getting a bridging-loan?

Wait…did you say they’ve got a child together? Why is he treating your mum and SDS like second tier family?

This idiot is in a complicated family situation for whatever reason and can’t be bothered to make a will to protect all of his children. If he wants to guarantee his wishes are followed, he has to make a will rather than depend on lovely Uncle Chris willingly giving away some of either his or his children’s inheritance. My DH’s family did this and the money never made it to those who were meant to be “taken care of”.

I can just see when they’ve moved in and work needs doing on the house he’ll start the “Well, why don’t we just keep your money where it is and use the sale money to get that lovely kitchen you like. You’re ok paying half, aren’t you?”.

Tell me you don’t understand legal process without telling me you don’t understand legal process. 🙄

Fuck no

In the UK, the debt wouldn't come from the estate before the will is applied?

I don't see it as predatory in their case. I would want solicitor's help to make the loan process correct.

🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️

This!!!!!!! Will the bank even accept this if it isn't a gift!?

I think they could look into putting a change against the current house in the amount lent. That would protect your mother but I don't know if it would satisfy the mortgaging bank.

She would if she won a legal case, in fact the court would probably order it.

Just pay for her legal advice and invite her partner there as well (optional). He may no he won't go and there you have it. Really, go with your mother and let the solicitor outline the legalities and then let her decide but her partner is a CF and we all know it. Chancing it for a big payout. Prob has a will that will leave everything to his family. At least Dick Turpin wore a mask

Oh my god - absolutely not. He should be ashamed to ask her to put herself in such a vulnerable situation. It’s so cheeky.

Absolutely no way

As I said that could cost her 50 grand.
And there may not be £250,000 at the end of it to recover to repay her but actually the other lady makes a very good point. She wouldn’t have a leg to stand on to force the sale of the house. It’s his house.