How are you financially linkd?

crazikat2002

Hi everyone need some advice. My partner wants to move in bu his credit is terrible and has a lot of debts.

What would make us financially linked as I am nervous about adding him to any bills and bank accounts.

Thanks :j

balletshoes

my OH and I are only linked by a joint mortgage. We don't have any joint bank accounts.

System

Me and my husband arent linked financially at all. No loans, mortgages or bank accounts in both names either.... Of course that doesnt mean i'm not financially dependant on him.

burnoutbabe

"Only" by a joint mortgage? that means you are linked!

the OP: he can move in and pay you rent, and pay half the bills (all stay in your name). No need for anything joint, its same as a flatmate/lodger.

how is he sorting out his debt? will living with you save him money on rent which can be used for debt repayment? just thinking longer term about him demonstrating his keenness to clear the debts asap.

Jinx

Only linked by a joint account to my hubby.

angelil

If you don't want to be financially linked then you don't have to be. My husband and I rent together at the moment (as in both our names are on the lease), but initially I moved in with him and the rent was only in his name and I gave him money towards it. I still give him money separately for the electricity, internet etc; my name is not on any of these utilities. We have separate bank accounts.

We have specifically chosen to go in together on the loan for the car (even though only he drives it at present; I am taking driving lessons) and on a life insurance plan, but these are arguably optional items. I'm also a cardholder on his credit card account, but again this is a purely optional item.

In short, you can be as linked as you want.

chirpchirp

Does council tax bill not count then?

Surely this is a financial link and one you can't avoid without committing fraud.

I_wanna_live_for_free

I have no financial links with my husband at all. Mortgage in my name, separate bank accounts & credit cards, all utility bills in his name. Unless both being on the council tax bill counts?

chirpchirp

Benefit fraud checks, check everything which would include the electoral register and council tax.

I am linked to my ex husband on the mortgage, this led to me having to prove to the tax office when they did one of their normal checks that I'm not living with him.

I told them that his new wife would be rather shocked if that was the case.

So I would think that council tax would show some sort of financial link, credit agencies also use the electoral register, but not sure how this works to prevent lodgers from being linked.

crazikat2002

Thanks everyone, so basically I can add him to all bills but as long as I don't add him to the mortgage or bank account we won't be linked.

How do I get around tax credits, as I just did an estimate and as I had to declare his whole salary I lost 4000 a year and will now just get enough for nursery fees,

HappyMJ

crazikat2002 wrote: »

Thanks everyone, so basically I can add him to all bills but as long as I don't add him to the mortgage or bank account we won't be linked.

How do I get around tax credits, as I just did an estimate and as I had to declare his whole salary I lost 4000 a year and will now just get enough for nursery fees,

Tax credits do not financially link you in credit refernence agency databases.

You may as an individual lost £4,000 but you have gained a whole entire salary and reduced your expenses by sharing them.