Martin Lewis reveals essential check before lending money to family or friends

Martin warns it ‘isn’t a trivial decision’ (Picture: Getty/Shutterstock)

Even if you normally live by the rule ‘neither a borrower nor a lender be’, it can still be difficult to decide what to do when a loved one asks for financial help.

Thankfully, Martin Lewis is tackling the issue in his latest newsletter — and as you’d expect, he has some solid advice to help you decide.

Given banks charge interest, the Money Saving Expert (MSE) founder says ‘it’s no surprise that many who need a loan instead turn to the far cheaper bank of mum, dad, son, brother, sister, cousin or best mate.’

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