Should I let my new boyfriend buy a stake in my house?

Guest101

He's a man, never.... Ahem

Ofcourse, the benefits outweigh the negatives.

No mortgage, you can save up, security for both of you. Look at it from his point of view, he is investing his money into your house, so it becomes YOUR/OUR house.

+ if you don't do it, and you really do think you have a future together, dont you think he'll be abit confused, and perhaps doubt your commitment?

Guest101

backchat wrote: »

Your house is very important to you and in this day and age even more so. Do nothing until you get proper legal advice. DEFINITELY.
It will be money well spent for your future security and peace of mind.

Dont get that comment? HE'll buy half, and own half, the OP will own the other half. What legal security is there to consider?

365days

Here's maybe another way of looking at it.

Would you be prepared to sell your current home and buy a new home with him.

If you feel happy to do that then maybe letting him buy half of the current house is a goer. If you would have concerns doing that (losing your bolthole etc etc) then taht can lead you in a different direction.

lostinrates

Angry_Bear wrote: »

How old-fashioned - sharing a house is definitely more commitment than a piece of paper.

I've known people who have bought with friends, or financial partners only ...I don't they were that committed. However, I've known very, very many people, (married and otherwise) romantically involved who have bickered and lost money arguing over bricks and mortar on the breakdown of their relationship.

Marriage offers some practical purposes as regards inheritance and taxation in transferring assets without tax liability. A will could cover the other main thing offered by marriage.

Fwiw I wouldn't dismiss it out of hand but I would want some sort of further commitment and legal frame work. Personally for me this probably would now come with marriage as part of that frame work, but it need not if the other bases are covered by suitable legal agreement.

C_Mababejive

OP..why not sell your place and buy one together? That would be a true test of the both your levels of commitment.

Spirit_2

I cannot see what financial merit there is in selling up and buying anew as you will incur high transaction costs.

In the title you refer to new boyfriend but then explain you have lived together for 18 months. A new boyfriend sounds transient/temporary, someone you live with for 18 months sounds a bit more stable and long term.

Making a joint financial decision and jointly owned home is just a right of passage in creating a longer term intended/ to be permanent relationship.

If you invest any spare proceeds in another property/ISA's you still retain your financial security so that reduces your risks.

Person_one

As long a you go into it with your eyes open.

You'll be letting him have half the house, only half will be yours. If you do split up, you'll only then get half the equity/value to move on and buy a new place. Think wisely about what to do with that lump sum!

In a way, a straightforward 50/50 split will make things easier if you do separate, and you're already living together so there aren't the possible pitfalls associated with moving in for the first time.

If you both agree that the intention is for this to be your 'forever' relationship, it does make sense.

FBaby

No-one knows what the future hold. Only you can decide if you are prepared to make that commitment. If all goes well, you are sharing your life with the man you love and have no mortgage to pay, bliss! If it goes wrong, you might find yourself in the trouble you hint (but then again, by then, you might be in a better financial position and able to buy him out).

There is no right or wrong answer, you need to go with what is right for you.

duchy

If you see a long term future together - would that involve children and if so would that impact on your earnings ?

Could you see yourself in five years time with a baby -still unmarried and if you split up -and couldn't afford to buy him out -how would you feel.

I think it's one thing an unmarried couple buying a property together -but entirely another someone coming along later and wanting to buy in -if the owner can comfortably afford the mortgage payments anyway.

I'd see it as a partner wanting to make a financial investment -but without making the emotional investment in the relationship. If you've not discussed marriage -then why not. Owning a property together is as big a commitment as marriage in many ways.

Don't do anything without good legal advice to protect your investment

C_Mababejive

I think if i were him i'd go buy my own home.