To want DH to ask his dad if he would consider lending us some money so we can afford the deposit on a house...?

[josben]

hi, just wanted a general opinion on this... we are currently between houses (staying with my mum) and we probably need to borrow an extra £5,000 to afford a 4 bed house that we have seen in the town where we live.

But having paid off debts and moving expenses we are roughly £5,000 short of being able to afford a house we want... But DH does not want to ask his dad, and I can't ask my mum as she has no spare money...

I would rather not have to do it but if we don't I feel we will never find a house... we have been looking for 6 months!

We have never asked for or have been given any money from his dad before ...

FWIW we are about to borrow money from DH's mother, for a purchase we don't need to make. (It's an investment y'see.)

I would normally not be at all happy about borrowing any money from any relative.

However, we will be in a position to pay her interest on the loan at a rate superior to any other investment she would make. At the same time, the interest rate we'll be paying will be less than we would pay if we borrowed from a bank.

So it's a win-win: she gains more than putting her money elsewhere, and we are also better off than if we used a bank.

I'm happy with those sums, it's a business arrangement between adults who are aware of what they are doing and why, and most importantly, there is gain on both sides, not just on one.