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.

[Moniworries]

I'm worried even though on paper it's a short term loan to enable him to buy a house now until the current one is sold.

She's worried but she also trusts him.
They have been together for 6 years and to be fair he's a nice guy, he's got two adult DC and mum has two as well. They share one DC my brother

She lives in his house now but it's quite small he wants to buy a slightly larger house for family to visit and he will be a grandfather soon

They live quite rurally so harder for family to visit.

I'm concerned because he won't marry her he said it's too complicated with his adult children and also work shares and a family trust,he won't put her on the deeds.
He's never shared a Will even but has said brother will be looked after .

Mums put up with this because she's still got her divorce money ring fenced in case of problems which is about 250. That's her fail safe and she's been comfortable with her situation living in a nicer house than she could afford with that money for her should something happen

Technically he would be borrowing this money only on a short loan but she's worried as am I,what if something random happens to him in that time?

How could she get it back and what if it gets lost in complicated trusts?

If she wants to do this (why??!!) she doesn't need a loan contract but a charge on the property - with interest - that she can enforce...

Mil was scammed out of 80k by a bf who needed money for a house....
His family can stay in an Airbnb...

No

can your mother talk to a solicitor about putting a charge against the current house (waiting to be sold) to give her some protection?

No effing way. Show her this thread.

He isn’t a nice guy

there are many ways she could go on the deeds or have this money safe and something in the house and his share be kept selarately

she needs legal advice

Absolutely no fucking way.

He's protecting his money and kids inheritance by not marrying so she should 100% do the same - and he should even dare to request that she doesn't

She doesn’t necessary need to be on the deeds, but she does need the loan secured on the property with a legal charge, prepared by a solicitor and registered at the land registry. But, regardless, I still think it’s a terrible idea. Because is she really going to force sale to get her money back?

I would see his request as an indication of how little respect he has for her and that she should probably buy her own property for her and her son.

This man does not have your mothers interest at heart.

Nope.

also she needs to invest that money, I’d be tempted to buy a flat she can rent out with it, because if in 10-20 years time he dies, will £250k savings have kept up with house prices ?

Gosh no. He wants the financial benefit that comes from a two person income but not the commitment. He clearly doesn’t see her as a serious part of the family, despite them sharing a child.

Absolutely fkn not

Its a bridging loan, pending the sale of his old house, according to OP.

No a big fat no

if he needs to borrow money he can get a bridging loan from the ban. It’s standard practice to exchange on both properties at the same time so he needs to wait 7ntik he sells his current house

No, no, no, no. Oh, did I say no? He can get a bridging loan. She’s an idiot to even consider it.

No from me also, but another woman who needs others to do the thinking for her, I can't think of 1 reason this is a good idea as I assume 99.9% of the population would also think

Well yes, I should've been more clear. The house could take forever to sell and then it's not short term and she'll have no security at all in the meantime.

You should strongly advise her against doing this.

Absolutely not. Not even if I drew up a watertight legal agreement would I loan this man my savings

She's the mother of his son and he's not prepared to put her on the deeds. He does not have her interests at heart and I imagine just wants to find a way to use her money without sharing his.

They have been struggling to find a house and they had a buyer for their current house which fell through and they risk loosing the new house hence panic for a loan to buy the new house.
Once their current house is sold he would pay her back
On paper it seems reasonable and straightforward, I'm very wary because I know life can throw up all sorts.

So why can't he get a bridging loan from a financial institution?

No. This has red flags all over it and he’s playing her for the long game.
As a general rule, only lend what you can afford to lose down the nearest drain.

Not in a million years. She'll never get the money back. There will always be some excuse why he can't pay her back "just yet" til he engineers a proper fall out & makes it even more difficult. Please don't let your mum trust this man. A real friend, lover, whatever would NOT ask this of her.

Hell no.

She needs to notice that her BF is "protecting himself and his kids money" and she really needs to do the same and protect herself. He wants her life savings. Time for her to wake up.