Girlfriend moving in, what to do with moeny???

snowman_2 · 4 July 2008 at 1:33PM

Hi guys, my girlfriend and her 2 sons are moving in with me, but we are both a little bemused as to what to do with her house & my mortgage.

Initially we thought that selling her house and using the proceeds of her sale to buy into my property would be the best and quickest thing to do. So her house is on the market, but lets face it, with the housing climate currently she's spending out on her mortgage and utilities but not really benifitting, so should she rent until the market returns???

We have both been 'burned' by relationships in the past and we really don't want to think the worst but what options are open to us??

Any help greatly appreciated..

Cheers

:cool:

tigtag02 · 4 July 2008 at 1:35PM

Can you rent her house out?

snowman_2 · 4 July 2008 at 1:42PM

Thats currently what we're thinking...

kr15snw · 4 July 2008 at 1:43PM

I agree with the above, maybe it would be best to rent her place out?

She could then contribute towards the bills etc at your place.

tigtag02 · 4 July 2008 at 1:48PM

It also gives you both the security of a *what if it doesnt work* scenario

snowman_2 · 4 July 2008 at 1:54PM

Cool, would you suggest keeping our own mortgages at present??

She would like to put both our names on both properties, I'm not sure if this is the best thing to do. We will have to have solicitors doing the conveyancing work = money!!

How do you think we should split the bills??
my mortgage
my utilities
her mortgage
her utilities

Should she be paying rent?

Sorry for all the questions, just never been in this situation before..!!

floss2 · 4 July 2008 at 1:56PM

tigtag02 wrote: »

It also gives you both the security of a *what if it doesnt work* scenario

But sometimes that can turn into "I'm not going to try too hard to make this work because I've got somewhere to run to if it gets too hard" type thinking....... which can make it easy to give up if difficult times arrive, which they will (from experience)

I gave my LA rented house up to move into DF's home. I am not on the mortgage, I am not a beneficiary of his will (because he hasn't written one). However, my security has grown over the 2 years because we have had problems, we have had times where I wanted to run away, but we have sulked & stomped (well ok, I have sulked & stomped

) but we have sorted out whatever caused the sulk & moved on from it.

I am firmly of the opinion that had I kept my house, I would not still be living with DF in sunny Blackpool, but would be back in the leafy Cheshire suburbs.Because I had no safety net, we have made the relationship work & are stronger for it.

Good luck - and remember to do your share of the washing up!

snowman_2 · 4 July 2008 at 1:59PM

floss2 wrote: »

Good luck - and remember to do your share of the washing up!

thanks, good job i've got a dishwasher.... and i know how to use it!!!!

duchy · 4 July 2008 at 2:03PM

Seems to me you may as well keep the status quo until the property market settles. Rent her house out and then once you have decided if you plan to stay permanently in your house (and if indeed you want to put the property in joint names) or maybe buy somewhere together jointly.
I can't see any good reason to go to the expense of making both properties joint right now though. Or am I missing something ?

Penny_Watcher · 4 July 2008 at 2:44PM

When DD1 moved in with my son-out-law he continued to pay the mortgage and she contributes roughly half in rent. There are no children or other properties involved. As far as I understand all bills are split 50/50.

onlyroz · 4 July 2008 at 3:06PM

If you rent out her house then the rent should cover (most of) the mortgage. Then, as she's not paying the mortgage herself, she should have extra money to either contribute towards, or over-pay on, your mortage.