Was I wrong to charge my brother interest on a loan?
The complainant says
My brother needed £2,000 to fix his car after the garage found a big problem. He asked if I could lend it and pay me back over a year. I took the money out of my savings account, which pays around 4 percent.
I suggested he pay back £2,080 over twelve months, which basically covers the interest I'll lose. He was fine with it at first, but mentioned it to our mum, and now the family thinks I'm treating him like a bank.
The other side says the brother, as the complainant tells it
He says family shouldn't make money off each other, and that he would have lent me the money for free if our roles were reversed. He says the £80 isn't the point, it's the principle.
Jury discussion (5 comments)
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You're not making money off him, you're not losing money for him. That's completely different.
£80 over a year for a sibling? Just let it go. Some things aren't worth the family drama.
He agreed to it at first and only changed his mind after mum weighed in. That tells you something.
Or he felt awkward saying no to the person lending him two grand
Both a bit off. You were fair but it was always going to go down badly in a family.