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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Asking for a substantial amount of money

507 replies

mabelandivy · 29/09/2020 09:05

SIL is going through a divorce, their house has just sold and she's put an offer on a new one. Problem is the divorce settlement she is getting, share of sell of house money doesn't cover the new property with a shortfall of almost £50k. DH has been asked whether we can help out and she's requesting a loan of 30k from us. DH went back and said that was too much due to our financial situation currently and the next request was £25k. AIBU to think this is a huge amount of money to be asking for? We do have savings that would help, but we've have put off doing things around the house due to cash flow and DH's company being in a difficult position currently due to Covid - he is making lots of redundancies and we're not sure if the business is going to survive. The house the offer has been made on is lovely, but is huge - 5 bedrooms when it's just SIL and DS - and there are other nice (smaller) properties on the market in the same area for considerably less. I am happy to help, but I think a 6 figure sum request is a lot of money and also a cheeky big ask. I should also say that I can't see how this money will be paid back when SIL also doesn't work.

OP posts:
AnotherBoredOne · 03/11/2020 20:04

How did you go?

Petlover9 · 04/11/2020 04:16

Can we have an update OP please?

Jocasta2018 · 04/11/2020 04:37

If you were 100% secure in jobs & money for the foreseeable future then I would lend but demand a % of the house ie she owns 80% & you own 20%.
However she would have to pay you a bit of rent for sole use & you might be responsible for 20% of the property's upkeep.
As you're not secure at the moment then tell her to bugger off...!!

NeonGenesis · 04/11/2020 04:59

I don't think family loans are ever a good idea. If you can afford to give her something, then just give it to her, if you really want to... but it doesn't sound like you want to. I don't think I would would want to either, if I was in your shoes.

It's odd that she has enough money to buy herself a nice house in a nice area, and yet she's still chosen something beyond her means and expects her family to pick up the slack. It honestly wouldn't even occur to me to ask a sibling for money in this kind of situation. It speaks volumes about her as a person.

crankysaurus · 04/11/2020 05:06

Hope the business is going to be okay. You'll miss that £5k, especially when she won't pay you back.

nannybeach · 04/11/2020 06:17

No, just been on another thread, NEVER lend family or friends money, (unless you are Richard Branson) she does not need a 5 bedroom house, and yes, has to cut her cloth accordingly, especially as she doesnt work. Did she live in a 10 bedroom house before the divorce!!

joystir59 · 04/11/2020 06:32

If you can afford to give, not lend the money then do so, but it doesn't seem reading your post that that is the case so say no. SIL needs to buy a new property within her means.

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