Investment & Investing

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Howard in reply to @GoatandTricycle

It's just an unsecured informal cash loan, the friend can do what they like with it, they just happen to buy a property. They would only have an interest if that was part of the agreement, which would make the idea doubly terrible.

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GoatandTricycle in reply to @Howard

But the mortage lender will want to know origin of funds, no?
As may your solicitor for anti money laundering I'd have thought.

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Howard in reply to @GoatandTricycle

But the mortage lender will want to know origin of funds, no?

It's just "cash savings". You could tell them 'my mate is gonna shout me £30k' which might raise some eyebrows, but as long as no strings are attached to the loan i.e. it's not secured, they won't GAF.

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