A family member is putting down a deposit on a house. He is short by 50k. A friend has loaned him the amount (with a full loan agreement in place). However the bank has said they will only accept the loan from a close family member and not a friend.
He is asking me if he can transfer the amount to me, and then I loan it back to him, which would be acceptable to the bank as I am family. Is there a way of doing this? It smells a bit to me?