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loan from my brother

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  • 28-06-2015 5:43pm
    #1
    irish gent
    Registered Users Posts: 240 ✭✭


    I was out last night with my very wealthy Brother, I asked him for a loan of 50k towards a house as the banks wont give me that much . The reply I got was a bit disheartening , Im 56 years old Marriage over 3 kids 18 plus house has to go as we both agreed , What he said was that he would give me the 50k , but that I would have to pay it back , of course I said I would pay it back to him . What he then said was, and I nearly fell off me chair was that I was not to expect any free hand outs and that if He needed me to do some jobs and drive him around for giving me the loan..I'm very disappointed in him. He knows my situation . Banks wont entertain me on a loan of that size at my age..


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    #2
    conorh91
    Registered Users Posts: 3,328 ✭✭✭conorh91


    Although your brother's second request seems slightly OTT, maybe there's a good reason the banks won't give you 50k in the first place?

    I think that should be your first consideration tbh


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    #3
    The Diabolical Monocle
    Banned (with Prison Access) Posts: 2,618 ✭✭✭The Diabolical Monocle


    these days. to speak. English fvcking. does anyone know.

    yoda to fvcking talking. like is it.


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    #4
    ytpe2r5bxkn0c1
    Closed Accounts Posts: 32,688 ✭✭✭✭ytpe2r5bxkn0c1


    Doesn't sound too harsh. Unless, of course, he's also charging exorbitant interest.


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    #5
    irish gent
    Registered Users Posts: 240 ✭✭irish gent


    AGE is a problem I have no other loans out when I seel the house I will have 100k plus 20k savings..


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    #6
    Diamond Doll
    Closed Accounts Posts: 1,344 ✭✭✭Diamond Doll


    Erm ... your brother is going to lend you 50k (interest free?) and you're complaining that he expects some minor errands in lieu of interest?

    I hope this thread is a joke ...


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    #7
    [Deleted User]
    Posts: 26,052 ✭✭✭✭ [Deleted User]


    irish gent wrote: »
    I was out last night with my very wealthy Brother, I asked him for a loan of 50k towards a house as the banks wont give me that much . The reply I got was a bit disheartening , Im 56 years old Marriage over 3 kids 18 plus house has to go as we both agreed , What he said was that he would give me the 50k , but that I would have to pay it back , of course I said I would pay it back to him . What he then said was, and I nearly fell off me chair was that I was not to expect any free hand outs and that if He needed me to do some jobs and drive him around for giving me the loan..I'm very disappointed in him. He knows my situation . Banks wont entertain me on a loan of that size at my age..

    Why do you think you have a right to ask your brother to bail you out with a loan, and do nothing in return for it?

    He's the one doing you the favour. A generous favour.


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    #8
    BoJack Horseman
    Registered Users Posts: 12,248 ✭✭✭✭BoJack Horseman


    The Diabolical Monocle wrote: »
    these days. to speak. English fvcking. does anyone know.

    yoda to fvcking talking. like is it.

    Just hold your keypad to your face and press against it.


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    #9
    Penny Tration
    Closed Accounts Posts: 12,687 ✭✭✭✭Penny Tration


    Maybe he doesn't want to lend it to you, and that's his way of trying to get you to take back what you asked?

    Yeah he's being cheeky but asking for a loan of fifty grand is probably more cheeky!


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    #10
    irish gent
    Registered Users Posts: 240 ✭✭irish gent


    not sure about the interest we never brought that up..


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    #11
    ytpe2r5bxkn0c1
    Closed Accounts Posts: 32,688 ✭✭✭✭ytpe2r5bxkn0c1


    irish gent wrote: »
    AGE is a problem I have no other loans out when I seel the house I will have 100k plus 20k savings..

    You are only 55. Over what period will you be repaying the loan?

    You can pick up a house for 120k anyway.


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    #12
    irish gent
    Registered Users Posts: 240 ✭✭irish gent


    my Brother brought it up last night about how I was getting on and one thing led to an other , and out of the blue he told me not to worry about the money .That he would lend me the 50k if the banks didn't.


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    #13
    [Deleted User]
    Posts: 50,630 ✭✭✭✭ [Deleted User]


    Mod

    OP, what is the point of this thread? Are you looking for advice? Just ranting? You haven't been clear what discussion you want to take place here.


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    #14
    conorh91
    Registered Users Posts: 3,328 ✭✭✭conorh91


    Candie wrote: »
    Why do you think you have a right to ask your brother to bail you out with a loan, and do nothing in return for it?
    He's offering to pay back the loan with interest in fairness.
    That's more than his brother will earn by having his money sitting in a savings account.

    I can understand the OP's issue here. An open-ended promise to run errands for someone can avalanche very quickly. Expectations of this nature should be clearly delineated, or they are likely to generate some serious animosity.

    OP I'm pretty sure banks will lend to 56-year-olds, if they are financially sound. Are you certain that your age is your only problem?


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    #15
    melissak
    Closed Accounts Posts: 1,873 ✭✭✭melissak


    I am not trying to be rude so please don't take it this way but if i had a brother who would lend me 50 k when my circumstances wouldn't let me get a bank loan i would happily do the odd job for him to work it off.
    irish gent wrote: »
    I was out last night with my very wealthy Brother, I asked him for a loan of 50k towards a house as the banks wont give me that much . The reply I got was a bit disheartening , Im 56 years old Marriage over 3 kids 18 plus house has to go as we both agreed , What he said was that he would give me the 50k , but that I would have to pay it back , of course I said I would pay it back to him . What he then said was, and I nearly fell off me chair was that I was not to expect any free hand outs and that if He needed me to do some jobs and drive him around for giving me the loan..I'm very disappointed in him. He knows my situation . Banks wont entertain me on a loan of that size at my age..


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    #16
    irish gent
    Registered Users Posts: 240 ✭✭irish gent


    Mina Little Babysitter wrote: »
    You are only 55. Over what period will you be repaying the loan?

    You can pick up a house for 120k anyway.


    I live in Dublin where can you pick up a house in Dublin


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    #17
    [Deleted User]
    Posts: 26,052 ✭✭✭✭ [Deleted User]


    irish gent wrote: »
    my Brother brought it up last night about how I was getting on and one thing led to an other , and out of the blue he told me not to worry about the money .That he would lend me the 50k if the banks didn't.

    And instead of being delighted you have such a caring and generous brother, you're on here complaining you might have to run him to the shops occasionally?

    You're looking at this in the completely wrong way. Your brother is an absolute gem, you should be begging to do little favours for him.


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    #18
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Don't do it. You say you'll have 120,000 after sale of house. Plenty to either buy or rent something suitable. Don't put yourself in debt to any person, other than a bank. It'll only end in tears.


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    #19
    irish gent
    Registered Users Posts: 240 ✭✭irish gent


    Deleted User wrote: »
    Mod

    OP, what is the point of this thread? Are you looking for advice? Just ranting? You haven't been clear what discussion you want to take place here.[/QUOT Can you not read between the lines MOD... Should I take the Money or tell him to forget it ???


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    #20
    [Deleted User]
    Posts: 26,052 ✭✭✭✭ [Deleted User]


    conorh91 wrote: »
    He's offering to pay back the loan with interest in fairness.
    That's more than his brother will earn by having his money sitting in a savings account.

    No, he said:
    not sure about the interest we never brought that up..

    I think he's being a bit entitled. The brother sounds like a gem.


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    #21
    [Deleted User]
    Posts: 50,630 ✭✭✭✭ [Deleted User]


    irish gent wrote: »
    Can you not read between the lines MOD... Should I take the Money or tell him to forget it ???

    So advice then. Thank you for clarifying.

    Please use the personal issues forum. Please read their charter before posting.

    http://www.boards.ie/vbulletin/forumdisplay.php?f=127


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