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  1. #1
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    Default would you buy a sibling a house?

    My younger sister has a large deposit saved, but is unable to get a mortgage as her government job is contract (although she has had the position for years)
    We have the option of going guarantor for her to buy an apartment, or loaning her the money, with no/little interest, ourselves.
    We trust her 100% and know that she will pay us back/service the mortgage.
    The only downside is if she were to get ill or lose her job completely (highly unlikely) and was unable to make repayments.
    Would you do this for a sibling?

  2. #2
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    For my sister or brother I definitely would if I knew they were in a position to pay it back.

  3. #3
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    No way would I do that for my brother. I wouldn't for my sister, purely because I know she will never be in the situation to live alone, let alone buy a house. If she ever came to live with us, we would build her a granny flat at the back though so she would have semi independence, free of charge.

  4. #4
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    If your sister obtains adequate income protection insurance it will ensure that she has the ability to repay you if she suffers an illness or injury and is unable to work for an extended period of time. Maybe that could be part of the agreement?

    I think that it is a lovely gesture to offer to go as guarantor or loan her the money for a property.

    I know that in many families it would not be a good idea, but I would also not hesitate to do something similar for my sisters if I was in the position to do so!

  5. The Following 4 Users Say Thank You to CountryLovin For This Useful Post:

    Boobycino  (14-07-2012),HowCrazyCool  (13-07-2012),LoveLivesHere  (14-07-2012),MrsBeee  (14-07-2012)

  6. #5
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    Eta - i dont guarantour for anyone purely because i dont have the money if they don't pay it.

    Some yes others no,

    I don't speak to 2 of my 'brothers' and after what they did to my mother if they were on fire they would be lucky if i spat on them.

    One i would begrudgingly as his missus is a c**t who used her kids to hurt people i love.

    My sisters? I would buy all 4 homes in a heart beat.!
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  7. #6
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    I'd definitely help in your situation. You trust her do even in the event if illness she will do the right thing by you.

  8. #7
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    Income protection insurance as part of the contract .

  9. #8
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    Yes i would.

    My dh is on contract job not for long but we didn't have any problem in getting a mortgage

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  10. #9
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    Do you watch judge judy? That's 1 thing she says never do business with family. I love my siblings but wouldn't do it .if something does happen and the person needimg the money couldn't pay up your responsible for it you may not see the money ever. it's sort of like would you sell your old car to someone you know? I sure wouldn't because if a problem occurs with the car they will blame you for selling them it as "you" knew about the problem when you didn't. It like you don't mix family and business as the person doing the favour of helping out the person out then would become the bad person if the person can not afford to pay there bills...

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    Last edited by MyLittlePrincess; 14-07-2012 at 00:05.

  11. #10
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    I would absolutely


 

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