Boyfriend Not Saving

24567…11

Comments

  • han_nah95_2
    han_nah95_2 Posts: 68 Forumite
    Name Dropper Combo Breaker First Anniversary First Post
    Deleted_User wrote: »
    He sounds great.


    I'm feeling Sarcasm to your comment..??!!
    Viewed House: 29/02/2020
    Offer made: 29/02/2020
    Offer accepted: 01/03/2020
    Exchanged contracts: 13/05/2020
    Completed: 13/05/2020
  • warehouse
    warehouse Posts: 3,362 Forumite
    I've been Money Tipped!
    Is this someone you want to spend the rest of your life with?
    Pants
  • Kayalana99
    Kayalana99 Posts: 3,626 Forumite
    First Anniversary First Post Combo Breaker I've been Money Tipped!
    It sounds like he isn't ready for any sort of commitment yet? I would stop putting pressure on him to buy etc. Try and talk to him about it if possible and find out what is really going on.

    I'd have a chat with your Dad too about what to do, as your partner isn't on board with this so I think you have to accept now he isn't going to pay £350 a month extra towards the house so I'd make a plan B which either is renting permantantly or looking to buy the house yourself - in your name only - over a longer period.
    People don't know what they want until you show them.
  • han_nah95_2
    han_nah95_2 Posts: 68 Forumite
    Name Dropper Combo Breaker First Anniversary First Post
    warehouse wrote: »
    Is this someone you want to spend the rest of your life with?


    Since posting this and reading everyone's comments I have been thinking this question a lot more.


    I know when its good its great but realistically I need to think in the long term and security rather than short time. Maybe its my fault for setting a goal however it was him who suggested paying it back and he also agreed to the amount.


    I guess I wanted to see if I was being to pushy towards it all and if there was any way I could improve on the situation.
    Viewed House: 29/02/2020
    Offer made: 29/02/2020
    Offer accepted: 01/03/2020
    Exchanged contracts: 13/05/2020
    Completed: 13/05/2020
  • Guest101
    Guest101 Posts: 15,764 Forumite
    han_nah95 wrote: »
    My dad bought the property 4 years ago for me to pay him back gradually - however things happened quicker than anticipated and a year ago my partner suggested buying the house off my dad, during the buying process my boyfriend freaked so we ended up moving in but renting it. He has lived in the house for the last year and has helped decorate and sort the garden. I am 22 and my partner is 24.
    The mortgage we would have had when we were buying it was £420 we are now paying £750.00 rent. For all rent and bills we both pay in £550.00 and then the supposedly £350.00 saving.
    So is your dad paying the tax, getting gas safety check done every year, etc? - is he doing this officially? - its expensive lesson to not do so.
  • Guest101
    Guest101 Posts: 15,764 Forumite
    han_nah95 wrote: »
    Sorry - I didn't explain myself properly.


    I am 22 and he is 24. My dad bought the property 4 years ago for me to pay him back the £50,000 deposit and then the house was mine. (I was to young to be put on the buy to let mortgage) Yes he declares it along with his other 3 properties!


    We were just going to buy it last year to save all problems however during the process he freaked and wouldn't go further - a year down the line and renting and living in the property he decided 4 months ago he was ready to start paying it back. Agreed £350.00 a month each and due to start 2 months ago however he hasn't started saving.


    We are paying the deposit back to buy the house off dad. We can't "just get a mortgage" as we would have to pay to get out of the fixed term, this runs out in 5 years - hence the paying dad back for then.



    Im confused now. So you're paying £750 in rent, whereas before you were paying that off the deposit?
  • han_nah95_2
    han_nah95_2 Posts: 68 Forumite
    Name Dropper Combo Breaker First Anniversary First Post
    Guest101 wrote: »
    So is your dad paying the tax, getting gas safety check done every year, etc? - is he doing this officially? - its expensive lesson to not do so.


    Yes he is paying tax. Yes every house is gas and PAT checked every year. Yes all houses he rents out are on Buy to let mortgages. Yes he has a mortgage advisor!
    Viewed House: 29/02/2020
    Offer made: 29/02/2020
    Offer accepted: 01/03/2020
    Exchanged contracts: 13/05/2020
    Completed: 13/05/2020
  • lika_86
    lika_86 Posts: 1,769 Forumite
    Name Dropper First Anniversary Combo Breaker First Post
    Guest101 wrote: »
    Im confused now. So you're paying £750 in rent, whereas before you were paying that off the deposit?

    Also, if he bought it four years ago why will it be another five years until the fixed term runs out?
  • Guest101
    Guest101 Posts: 15,764 Forumite
    han_nah95 wrote: »
    Yes he is paying tax. Yes every house is gas and PAT checked every year. Yes all houses he rents out are on Buy to let mortgages. Yes he has a mortgage advisor!



    Im not bothered about his finances, I was more concerned about him getting fined by either HMRC or HSE or Local Council.


    That aside. I still don't understand, what you are paying the £750, is it just rent? In which case how is this a good deal? Or is this off the deposit?
  • han_nah95_2
    han_nah95_2 Posts: 68 Forumite
    Name Dropper Combo Breaker First Anniversary First Post
    Guest101 wrote: »
    Im confused now. So you're paying £750 in rent, whereas before you were paying that off the deposit?


    Before we were just going to buy the whole property off my dad - obviously partner changed his mind halfway through so we pulled out. Now we are paying £750 rent and was hoping to save £350.00 each a month to pay off the deposit to eventually buy it.
    It's hard to explain over computer but it makes sense in the head :)
    Viewed House: 29/02/2020
    Offer made: 29/02/2020
    Offer accepted: 01/03/2020
    Exchanged contracts: 13/05/2020
    Completed: 13/05/2020
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.1K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.6K Spending & Discounts
  • 235.1K Work, Benefits & Business
  • 607.8K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.8K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards