Bear with me on this one.
We need to move house, the usual need more space inside and out.
We cant move till my daughter is in the local school which will be Sept 2013 although she will be given the place in March 2013.
So saving like mad now for deposit/stamp duty /fees.
We have the option of selling at that point investing the equity with my brother-inlaw, who has his own business as a Wealth advisor he says he can get us 12k worst case 15k best senario without being too risky.
MOVE IN WITH THE MOTHER IN LAW for TWELVE MONTHS continue to save, and then be in a much better postion to buy then. Probably save even more money at that point.
I will add she has 5 bedrooms and two reception rooms she does’nt use, and we could adapt the utility room into another kitchen.
Would i be stupid not too, I dont think I would see her that much…

Is this all a smoke screen? Are you trying to tell us you fancy your wife’s mother?

Being funny for a moment, do you get on with her? If so, do it…easier access to a baby sitter at times!

Kids love going to grannies, and she easy to get on with did 3 months when we had the extension. But that was temporary, what if we dont find a house or they fall through could be there for years. That is my main worry.

If you and your wife get on with her then go for it.

Even though you will be saving I would try and agree a nominal rent or share of running costs even if she says not to.

Agree with her a timescale and worst case scenario you can always rent.

We would still pay for share of Gas, lecky, water, food, but would save on council tax and morgage payments, house insurance contents.
But would have to think about renting after the year if nothing was on the market we liked.

“investing with the brother in law”. Just don’t.

In my experience it’s like living with your wife (only she was a better cook, good at ironing, and didn’t nag!) and if you’ve got Kids, its also like having a live in Nanny!

[video]http://www.youtube.com/watch?v=-3lKbMBab18[/video]

[video]http://www.youtube.com/watch?v=tuFy3iCZ3x8[/video]

We have the option of selling at that point investing the equity with my brother-inlaw, who has his own business as a Wealth advisor he says he can get us 12k worst case 15k best senario without being too risky.

Hmmm this stands out more than anything else. Can you afford to lose the lot if the wealth advisor/BIL doesn’t come good with the promise.

I guess it depends on how well you get in with her. We moved in with my in-laws for 3 months whilst we renovated our house and a further 2 months when having an extension done but I get on well with them so it wasn’t really an issue.

Moved in with my MIL for 4 months between selling our house and our new one been vacated.

The 2nd worst 4 months of my life, the first worst involved Mum & Dad’s deaths.

Good luck Jonny, good luck

PS you won’t save that much money living there, as you’ll be so desperate to escape the day’s out will add up and cost you the money you’re saving

MOVE IN WITH THE MOTHER IN LAW for TWELVE MONTHS

I’d be very careful of giving any money to someone called a Wealth advisor, aside from that if it goes breasts uppermost and you lose money that will not help family relations.

Go for the MIL bit, we did – luckily my ILs are brilliant but 6 months was about as much as was safe, start to trip over each other after that. It’s usually the little things – leaving the milk out, moving things – trivial but they become an itch you can’t scratch.

Soon to be your ex wifes mum!!!

Tell us more about this Wealth advisor

if the BIL is so sure, then he’ll be happy to guarantee the uplift in cash from before to after, no?

Your going to give all your money, savings house deposit to a wealth advisor? Everything you saved for and future house? Have you ever thought its too good to be true? What happens if he loses it all? Your future independence gone. Don’t do it. The risk is to big.

who has his own business as a Wealth advisor he says he can get us 12k worst case 15k best senario without being too risky.

run away, run away.

anyone who calls themselves a wealth advisor is likely to be a) unregulated and b) unlikely to really understand what they’re doing.

Don’t get family members involved with your money – it’ll end in tears one way or another.

If I’d have moved in with my mother in law, I wouldn’t now be worrying about house deposits, or in fact any accommodation, as it would be being supplied free-of-charge by HMP.

With good behavior, ‘life’ only really means 15 years.

Move in with your mother in law?!! Seriously?!! Are you insane?!!!

If you get on with them then move in, worse case if you start to niggle each other then move into rented. It’s a good opportunity to cut down expenses and save some money, I’d grab it with both hands. Agree on some ground rules first though and either pay a nominal rent or put some away each month in case it ever becomes an issue. When you move out you could always treat the mother in law to a holiday or something out of the money she saved you.

As for the brother in law, wealth advisor? What the hell is that? Sounds like an amateur. He can guarantee you 12k worst case, 15k best, on what level of investment? Does he stay up all night locked in his bedroom playing internet poker? Seriously, don’t mix money and family.

We have the option of selling at that point investing the equity with my brother-inlaw, who has his own business as a Wealth advisor he says he can get us 12k worst case 15k best senario without being too risky

Somebody has a new name, just remember how the so caled bankers screwed UK PLC.

Walk or run away very fast, it wil all end in tears, for you and your family.

Also what happens if you loose your job, or the M I L dies which would be very sad ,or evenif the wealth creator is found bankrupt.

Does the moving in the with the mother in law thing require investing in the brother in law?

My Broinlaw invests, my pension, other family members, old business collegues. He is super anal, and has only ever passed his exmas first time. So i would be happy giving him my money. I also used to work for him for about 6 months, the bro inlaw is not really the issue.
Its more living with the MONSTER in law, i guess staying as seperate as possible and trying to save like mad. Just better get sky multi room installed first.

What is he investing in to be able to guarantee returns, especially those with such a variation in expected yields? I’d be concerned by that, and you’d be gutted if you lost your deposit.

The yield is 7-10% of investment

Interesting yield, what happens to your investment if things don’t go well. Personally enjoying the current economic crisis as getting 13% return on my investment so there is money to be made