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Tish_P

Think carefully about the attitude of "OH pays the mortgage so it's no loss if I get kicked out in a few years"! If you are partners, chances are you either contribute financially to the household, or you provide a lot of support (housework, childcare) that makes it considerably easier for your OH to earn money and progress in a career. In which case - don't leave yourself at risk of working for years with nothing to show for it.

C_Mababejive

Tish_P wrote: »

Think carefully about the attitude of "OH pays the mortgage so it's no loss if I get kicked out in a few years"! .

A very important point. You share a home with someone...trundle through life and..erm...they have security ,they have hedged against inflation,they have their home so know that any extra money is for lifes pleasures,they have control as to whether you stay or go.

And what does the non owning party have..?

Well they continue to pay bills and enjoy sharing the company of the other person.

The other person could hoof them out on the street at a moments notice.

If that happens late in life, you have no chance of getting a mortgage.

You will have to rent or shack up with someone else.

escortg3

C_Mababejive wrote: »

Well at least you have given it some thought and taken a step in the right direction but have you considered the possibility of paying some Rachmann landlord a large proportion of your meagre income just for a roof over your head at a time when you can least afford it..i.e when you are older/perhaps retired?

All the time i am living with my partner i am saving as he insists he pays all the bills. I dont anticipate that we will split but obviously all the years i have been with him i have been able to save what i would have been paying in rent.

I may have enough to get a morgage but hopefully our relationship will last forever and it will be a nice retirement fund for us both.

escortg3

Tish_P wrote: »

Think carefully about the attitude of "OH pays the mortgage so it's no loss if I get kicked out in a few years"! If you are partners, chances are you either contribute financially to the household, or you provide a lot of support (housework, childcare) that makes it considerably easier for your OH to earn money and progress in a career. In which case - don't leave yourself at risk of working for years with nothing to show for it.

I dont think i have an attitude and i didnt say no loss.

It is his house he has worked hard to pay for it so why should i expect anything from it.

While he is paying the bills i am not. I save my money. We have no children together.

I contribute nothing to the household. I save £1000 a month and he knows i do. He is happy with the situation and so am i.

We have no plans for splitting up but if we do he has his £180,000 house and i have a substantial amount of savings. Seems fair to me.

princessdreamer

I live with my children in the home I own jointly with soon to be ex husband. Where it goes from here who knows as I am refusing to sell as why should I he cheated and has the other womans house to live in.

Mojisola

floralaura wrote: »

I have often wondered about the legalities of my situation too..
OH owns the home outright, we have a 18mth old Son together and I also have a Son from a previous relationship. We have lived together for almost 4 years. We are not married.
Its OH's house, not mine..but its both our Homes.
It does bother me now but not overly so..I do worry about when I bump OH off for annoying me once too often though (;)) and what will happen. In all seriousness though, I worry about what would happen should he die, he had made a will saying I am the executor and get it all BUT the fool has never signed it/had it witnesses and hes had the thing over 2 years now :mad: He has no other Children, his Mother is a fruitloop and he does have older siblings who could all potentially kick us out if OH died (I think). Theres not a lot I can do though, his home that he bought with his money before we met so I cant 'claim' it as such

If you are not married and especially if you have children from other relationships, both partners should make wills - https://www.advicenow.org.uk/living-together/wills-inheritance-issues/

At the moment, if he died, the son you have together would inherit everything. You and your other son would get nothing. You may be able to contest his inheritance if your OH has been supporting you financially but that would cost a lot.

Tish_P

Good, escortg3 - like I said, you should think carefully and you obviously have. I did say "in that case", which as you have later explained is not true for you, but may be for a lot of others.

getmore4less

It can be a good exercise to do a intestate inheritance tree on top of any wills you have.

with kids do a guardian tree as well.

then kill people off in different orders and combinations.

If there are any outcomes you don't like you need to make extra plans.

multiple death senarioes need to be done as well,

We started going on holiday with parents so there was increased risk that 4 people went at once and the mess left behind would have been a nightmare fir nyone to sort out.

C_Mababejive

escortg3 wrote: »

All the time i am living with my partner i am saving as he insists he pays all the bills. I dont anticipate that we will split but obviously all the years i have been with him i have been able to save what i would have been paying in rent.

I may have enough to get a morgage but hopefully our relationship will last forever and it will be a nice retirement fund for us both.

Thats true but consider this...and it isnt about you,its a general illustration..

A person buys a house for X amount.
The mortgage payments are then locked in at a certain amount for ever so they have fixed their mortgage/housing costs for the full term of the mortgage. OK there are minor fluctuations but basically,the housing cost is set in stone from day one give or take a few quid. Its a little tight in the beginning but then our old friend inflation kicks in. The buyers wages move upwards (usually) but the mortgage stays the same. The value of the property gradually drifts upwards. Again ,the owner benefits from the locked in value.


The person not buying...Well they contribute to bills etc and enjoy some home comforts.

They may well save as you say...but the true value is ravaged by inflation over time,not increased as in the above. Did you know that at current inflation rates,the value of your savings halves every 16 years?

Also,with time and house price drift generally upwards,the potential for using your savings to buy that house gets less and less.

Also, you may feel that you have to keep saving to ensure that you can house yourself should the worst come to the worst. Your savings get ravaged by inflation AND worse,you cant spend them to enjoy life unlike person one.

escortg3

Tish_P wrote: »

Good, escortg3 - like I said, you should think carefully and you obviously have. I did say "in that case", which as you have later explained is not true for you, but may be for a lot of others.

I agree where people have children together they need to sort things out.

There are people out there that think that because they have moved in with someone they should be entitled to half of the house, people have said to me in the past "oh your his commonlaw wife and you can claim half" i tell them that commonlaw husband and wife does not exist and they are shocked.

I do believe that the best way forward if your in my position is save hard to ensure you have an amount behind you.