Hot Stuff
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Some banks will give a loan against a settlement or inheritance. That means you'd have to sign your inheritance over to them now for a discounted proceed. |
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Pauline
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You may be able to persuade a mortgage lender to consider the bequest as a repayment vehicle for any loan (so part is interest-only, and paid-off when you inherit).
I wouldn't rate your chances of getting money early; not cheaply anyway... |
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garstard
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What is the situation with the money in the intervening 10 years? If it is being held in trust for you, it will depend on the terms of the trust. The trustees may well have powers to make investments on your behalf. You should look into this, because if they see it as feasible and worthwhile the trustees might be able to pay the deposit on a property. The trust could then own the proportion of the property until the trust terms require that the trust assests are given over to you. |
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hjh5w
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I dont know the technical/legal answer to your question but presumably, there is a 10year condition for a reason? Would it not be wise to respect this? It would be very tempting to 'blow the money' maybe if you had it now. Presumably you are very young and it's a lovely present to have in the future. |
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beverley.newman1@btinternet.com
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You may be able to receive the interest on the capital of your inheritance and use that as extra income for your mortgage application,although at 18, I would suggest you put all your efforts into a career and living a bit! Do'nt worry about tying yourself and your future inheritance down at your age,time enough for that sort of commitment when you have your inheritance.Good luck,live life,it's not a rehearsal,you do'nt get a second chance. |
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confucious says
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if the will states 10 years you will have to wait 10 years it is impossible for you to be able to change this. and I really think you could get a mortgage with this as security providing you still get the inheritance even if you die, if you dont i dont think you have much hope, expect to pay a premium rate for your mortgage though |
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mister ed
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sorry young chap but somebody hoped you would have better grasp of money management in 10 years -- so sat back and stay healthly you have somethng to live for!!! |
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gizmoe
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Wait ten years. |
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sicoll007
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Unlikely unless you can prove whoever made the will was not of sound mind.
What you might be able to do is sell it - i.e sign the right of the will over to someone else, and they would give you a lesser amount that you could use now. |
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wonderingstar
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wait the ten years i think, does it state why 10 years ? most are untill 18 or 21 |
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Abz
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Well thats a bit stupid is'nt, whats the point of a will if you won't get it?? However if the person who wrote the will specificly wrote that you won't get it untill after 10 years; then i guess u
'll have to wait. |
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