Boyfriend moving in - property ownership advice

bodmil

LannieDuck wrote: »

Yes, except that money in the bank gets miserable returns, and even erodes in value. Property prices generally (although certainly not always) increase over time. Property is an investment, savings are just savings.

(Incidentally, if the mover-iner pays sufficient 'rent' to cover the owner's mortgage payments, then the owner gets their mortgage paid off whilst also being able to set aside money for their own savings. Whilst the mover-iner can put less into their own savings because they're paying 'rent'.)

Property prices are just as likely to fall at present, there's no guarantee of a return, especially after costs of up keep, maintenance and insurance are taken out.

You have to compare it to the realalternative - and that's paying actual rent. Yes savings are crap at the moment, but it's better than paying the same amount into a landlords bank account.

The point that's being made is that IF you pay 'sufficient rent', akin to a worthwhile contribution to the mortgage you WILL have a stake in the property, so the key is to avoid that by making it a minimal payment towards bills instead. That leaves the mortgage payments as was intended when the mortgage was taken out - the responsibility of the owner, who was obviously happy with the situation to begin with.


Hopefully it's all a bit of a moot point anyway, why would anyone make their OH pay 'rent' to their financial gain. I'd like to think we're talking about a loving relationship here!

FBaby

How long have you been together, how serious is the relationship? Has there been talk about the future etc... The fact that HE has mentioned contributing in a way that means what he pays is an investment makes me wonder whether you are not seeing eye to eye on this, which then would mean you are not ready to move in together.

When I moved in in my partner's house, it was always clear that the money I was giving him toward the house was NOT rent, but contribution towards the mortgage. From my perspective, we were in a serious relationship past the boyfriend/girlfriend relationship and if I moved in with him, it was as a step towards complete commitment.

If he had said that he wasn't prepared to see it like this and just wanted me to pay rent like a lodger would, I would have told him that it wasn't happening because clearly it would have meant he didn't see the relationship as I did.