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Adding the girlfriend to the mortgage
worto03
Posts: 461 Forumite
Hi,
Could someone advise me how to go about this. We have been living together for 8 years (6 renting & 2 buying) but because of some financial issues my GF doesn't pay into the mortgage - she pays half of all the bills & half for tellys & furniture and stuff but the mortgage is just in my name.
She is almost in the position where she will start paying into the mortgage which we were going to do as overpayments but she is concerned that she won't be on the mortgage at all should we split up or if somethng happens to me? The same goes for me I guess as at the moment she is probably entitled to half the house even though I've payed out £500 a month for 2 years on the thing & who knows what in leagal fees at the time of purchase ect.
Do we need to see a solicitor but the ammounts she pays in will vary from month to month so would I have to see the solicitor every year to update them or can we keep a spreadsheet somewhere & just tell the solicitor about it then keep a copy each or something?
We are just about to remortgage on a fixed rate for 5 years so now would be a good time to add her even though shes not paying if thats the best thign to do.
She won't effect the deal as far as I know as all of her debts are in my name anyway and have been for a while to get a decent interest rate - even though she pays them all.
Thanks for any help,
worto.
Could someone advise me how to go about this. We have been living together for 8 years (6 renting & 2 buying) but because of some financial issues my GF doesn't pay into the mortgage - she pays half of all the bills & half for tellys & furniture and stuff but the mortgage is just in my name.
She is almost in the position where she will start paying into the mortgage which we were going to do as overpayments but she is concerned that she won't be on the mortgage at all should we split up or if somethng happens to me? The same goes for me I guess as at the moment she is probably entitled to half the house even though I've payed out £500 a month for 2 years on the thing & who knows what in leagal fees at the time of purchase ect.
Do we need to see a solicitor but the ammounts she pays in will vary from month to month so would I have to see the solicitor every year to update them or can we keep a spreadsheet somewhere & just tell the solicitor about it then keep a copy each or something?
We are just about to remortgage on a fixed rate for 5 years so now would be a good time to add her even though shes not paying if thats the best thign to do.
She won't effect the deal as far as I know as all of her debts are in my name anyway and have been for a while to get a decent interest rate - even though she pays them all.
Thanks for any help,
worto.
0
Comments
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HI
I would see a solicitor and explain all the issues, you need to protect your position and she needs to protect hers.
If she has been contribting 50:50 to all the bills / running of the house etc it seems fair to put her on the deeds.
why not phone your mortgage provider and see if they can make some suggestions.
Good luck !
Best,0 -
I'd mention the debt liabilities of her's that you've taken on in your name, as well though....
If she's on paper technically debtless, then that might actually be effecting her credit rating, adversely. Clean history, equals no track record. If she's not down on the council tax either then effectively credit checking will see her as having no roots, so to speak...
Ermmm, am I saying give her some of her own debt back....
LoL, I might me...
Now, I'll run for cover...0 -
its not entirely clear what you are trying to achieve.
Are you happy that you both own half the house (or rather have equal shares). If so then simply get a joint mortgage and then there will be the presumption of equal shares.0 -
thanks for the replies - sorry Im a bit slow replying.its not entirely clear what you are trying to achieve.
Thats a good point.
I would say we are trying to make sure neither of us end up ripped off if things do go wrong (and thats a big if as we are quite happy which makes it all seem a bit odd talking about this)
I guess bestthings summed it up with the following statement
'you need to protect your position and she needs to protect hers.'
Athough would most people really go as far as to say
'If she has been contribting 50:50 to all the bills / running of the house etc it seems fair to put her on the deeds'
I think paying 50:50 on bills is a big diference to shelling out £500 (soon to be £600) quid a month on the mortgage when I'm also paying bills too? Am I wrong there?
what does adding her to the deeds actually do? I've got to call the bank tomorrow (shockingly HSBC came up with the best deal for me!) so I'll ask them if they can advise us if not maybe we do need to see a solicitor - we just don't want to throw away good money for a problem that doesn't really exist!
heh - I think I'm going round in circles now! Once again thanks for the replies & I'll post again tomorrow after speaking to the bank.
cheers,
worto.0
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