Loan of Money

[manfest]

Hallo!

I am in a bit of a dilemma!

My brother has been living in France for some considerable time and is now returning to the UK. In September 2006 he asked me to help him financially and lend him 30,000 Euros. I transferred this out to him via my bank. He has now sold his house in France and returning to the UK. Should I ask for 30,000 Euros back knowing that the exchange rate has significantly changed or should I just ask for the amount it cost me in Sterling to transfer the amount back in 2006? What would you do?

Thanks in advance.

[parsnips]

Hi,
I would ask for 30 000€, that's what you lent. (I assume you lent interest-free?--gives you a fair return).

[manfest]

Hi Parsnips!

Yes, I gave the loan interest free.

Thanks for your comment.

[Matou]

As your brother is returning to UK, you can also ask for the sum you have paid in Sterling in 2006 and you might even update that amount to cover inflation rate (this will correspond to a zero interest loan).

[manfest]

Hi Matou.

I'm hoping that my brother will just transfer the 30,000 Euro he originally asked for as he will be paid in Euros for the sale of the house.

Thanks for your advice.