Boyfriend moving into my mortgaged house

northernsaver

Hello,

I'm hoping you can help with this as I'm at a loss at what to do.

I own my own house, but my boyfriend will shortly be moving in after two years together. He's currently renting. We've spoken several times about bills, and he wants to pay HALF towards everything (which is £150 less than what he's paying now) - including the mortgage, home insurance, food, council tax (which has now gone up to 100% from being 75% single allowance) and everything else. I don't agree with this, but he and everyone else is saying 'accept it'. I'd rather just get the extra amounts it's costing me with utilities (but then would he be living for free?).

I've read some forums & people have been saying 'your a mug for paying towards their mortgage'. In the future we'll probably get somewhere bigger, so the equity I make on my house will go towards 'our' house, so he won't be loosing out that way.


My parents helped with the deposit (not a small amount) so I want to get a document drawn up from the solicitors saying 'If we break up, he can't take half the house'. They are also expecting I do this too. I know to some that sounds horrid and that I don't trust him, but my parents gave me money and I saved up a lot towards my deposit so I don't see why (should the worst happen) he could take half if I don't protect myself, when he hasn't saved any himself.

The document will say something along the lines of 'I put £ deposit into the property so I will get £ much back. I paid £ off the mortgage before he moved in, so I'll get that back. He will get half of whatever we paid off together, from the date he moved in'

I'd just like some advice from someone who has done this before. How did you split the bills? Did you have something drawn up, and if so, what?

Anything will be appreciated.
Thanks

ACG

Why not get him to pay half towards the bills EXCLUDING the mortgage.

Get him to put that share in a savings account so if your still together and it all works out when you do buy a house together you will have your equity and he will have his savings. Get a joint bank account maybe, pay in the same amount each, pay all the bills bar the mortgage from that account. Then even if you do split up, you just take half each from that account....keeps it all nice and simple?

Danni-R

If he pays half towards the mortgage then he would be able to stake a claime if you broke up. If he pays 'rent' that is not the mortgage then he doesnt.

My plan for it (I'm in the same position as you with the help from parents) was OH pays 50% bills excluding mortgage and then pays £xxx into a savings account so that when we would have moved in together they had some money for that property so it was more balanced.

With it made clear that it wasnt towards the mortgage it wouldnt entitle him to a share. but still run it past the solicitor who will draw up something fairly easy to protect your parents (that was my main concern)

Thrugelmir

There's no reason why he can't contribute. As a lodger he would pay rent.

He has absolutely no rights to your property. So don't become overly concerned on that score.

The fact that he wishes to "contribute" should be viewed in a positive light. As and when the appropriate time comes you can protect your existing equity using a Declaration of Trust drawn up by a solicitor.

Dave_Ham

Just to reinforce what your parents are saying and you are thinking; spend 10 minutes looking through this forum which is littered with unfortunate threads about people splitting up and creating all sorts of problems by not doing this in advance.

Just for my 2p worth, if you split and he has paid 50% of the mortgage (which actually I think is fair) why would he get this back?

As you said less than paying rent, you got the deposit and paid previously if you split then thats that.

A solicitor will be able to draw up this agreement easily and cost effectively, although you will be advised to get separate advice (independent)

Fingers crossed you never need the document

HappyMJ

Dave_Ham wrote: »

Just to reinforce what your parents are saying and you are thinking; spend 10 minutes looking through this forum which is littered with unfortunate threads about people splitting up and creating all sorts of problems by not doing this in advance.

Just for my 2p worth, if you split and he has paid 50% of the mortgage (which actually I think is fair) why would he get this back?

As you said less than paying rent, you got the deposit and paid previously if you split then thats that.

A solicitor will be able to draw up this agreement easily and cost effectively, although you will be advised to get separate advice (independent)

Fingers crossed you never need the document

Half the mortgage interest would be OK but half the repayment would mean he has some interest in the capital part of the mortgage so I would just say ask him to contribute a little bit less than what someone would charge for a room in a shared house in your area with all bills inclusive....i.e make him a lodger.

VfM4meplse

HappyMJ wrote: »

Half the mortgage interest would be OK but half the repayment would mean he has some interest in the capital part of the mortgage so I would just say ask him to contribute a little bit less than what someone would charge for a room in a shared house in your area with all bills inclusive....i.e make him a lodger.

Better still, a rent-a-room lodger. That's £4250 pa tax free (but would mean filling in a tax return).

iwilldebtfree

i asked a similar question not so long ago and someone pointed me in the direction of this site http://www.advicenow.org.uk/living-together/ i found it really useful reading

Beckyy

"I've got the mortgage covered honey, so instead of paying half of that we'll open a savings account (joint) and you can pay the eqivalent into there for when we really need it in the future."

northernsaver

Thanks all for your advice, much appreciated!

Everyone has a very clear opinion on what they'd expect, but I'm still at odds at what to do. I'm trying to put myself in his shoes, but I think that's making it worse. A good sleep might help!

I'll update again when I'm closer to an answer, and let you know how it goes.

Many thanks again,
Rach

DominicJ_2

Me and my partner both pay 80% of our pay into a joint account*
Thats used to pay the mortgage, bills, petrol, ect.
Everything thats left over gets saved to buy joint things, go out, raid IKEA, book holidays ect.

The 20% left over is our personal money.

*Currently, its just my account, her credit is in such a state I refused to open a joint account

I think if you move him in and try and charge him "rent" rather than a share of the house, he'll likely take the huff, my partner certainly would. But I'd be happy to accept that you currently own the house, and the pair of you be buying small blocks of it from now on.