Thanks all!
Premium bonds is max £50k as far as I know.
Max NS&I rate is curently 4% as far as I can see. I could give her more than that and still have a cheaper mortgage/not be at the mercy of the banks.
It's all food for thought.
To clarify - I meant that she loans me the money - she's in effect my lender.
Any further thoughts very much welcome!
Not sure if you’ve sought advice but this sounds like a possible trust/ trust fund situation.
Best to seek advice as others have said. If you have found advice what have they suggested?
Thanks all!
Premium bonds is max £50k as far as I know.
Max NS&I rate is curently 4% as far as I can see. I could give her more than that and still have a cheaper mortgage/not be at the mercy of the banks.
It's all food for thought.
To clarify - I meant that she loans me the money - she's in effect my lender.
Any further thoughts very much welcome!