First home with partner = how much to pay???

con1888

shegar wrote: »

You will have to go through a credit check, I honestly dont know what the outcome would be, best to see what the OH says, he may not want you to own half of the property..........

Not at this moment in time but he said after a year or two he would like to put me on the mortgage. I have told him it wont be possible in such a small timeframe due to my bad credit though. Shouldn't take long to pay it but it will take a while to get my credit rep back.

rosie-lee

He's obviously looking at long term commitment to you and sounds like a 'good 'un' if he's got the good sense to give you the opportunity to pay off your debts. But please do that and don't be tempted to be putting frippery for your home on credit or store cards.

Believe me, you will get far more pleasure when you've saved up for something and chosen it together. I still have expensive curtains stored away and can't get rid of them because I yearned for so long to have them. With your first home, it's an opportunity for the family to come round for an admiring get together, if you know what I mean.

You'll get no pleasure from rowing about not clearing your debts, and personally I would be reluctant to financially connect myself with another person until all debts were cleared. He sounds like he's got common sense.

Red_Elle

Can you not have a look at what it would cost you to rent in the same area for a house that size and split that figure down the middle? If you weren't living with him presumably you'd have to pay rent somewhere else as well as bills? If you're not on the mortgage then you are in effect renting.

If you want to go on the mortgage further down the line, but are both worried about what may happen if you split, you can have a declaration of trust drawn up by a solicitor to protect what he already has in the house and protect what you put into it from thereonin.

con1888

I am definately going to try and be sensible and pay my debts off, angry at myself for being in debt! I was 18 and took a loan (which I do pay back every month) and two phone contracts and a catalogue. Then realised it wasn't affordable when I was still at school and had an income of £40 a week from a part time job!! I have learned from my mistakes now!

vincentt

I think that you trying to put yourself onto his mortgage is not right. like someone said before, you would have been paying rent anyway. so how can you claim his property because you are paying rent? if i was to rent out my house and my tenant was paying my mortgage, i wouldn't say that they have a claim to my house.. i am taking on that risk and if they cant pay the rent then i will have to cover it...
if i was you, i would save your money, and make sure that if and when you clear your debts, you state that he has a larger share as he put the deposit down.. none of this 50/50 business as you should not get half.

haha, apologies if it sounds too blunt, but i am planning to buy a few properties and cant stand the thought of an ex-GF trying to claim parts of my assets lol

Beckyy

I would work it so that you're both paying the same amounts each. Eg - OH does mortgage, so you do bills to the equivalent. It saves standing oders and needing to 'owe' each other money.

I would also want to be on teh mortgage and house deeds after x amount of time, if you're serious about being financially involved.