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House Purchase Concern with girlfriend
PensionKid
Posts: 25 Forumite
Hi,
I'm in the process of buying a property. I plan to move my girlfriend in when i get the keys. She is coming form a rented property and has no monies to buy the house or contribute any payments in regard to purchasing the house.
However, the plan is for her to effectively rent from me from day one. I have told my solicitor about this arrangement several times (i assume there will be some sort of paper work involved), but he has not noted it at all.
This is a awkward subject to speak/write about but what do i need to do to protect myself in the event of us splitting up? Would she be entitled to any of the house monies etc etc?
Best regards,
PensionKid
I'm in the process of buying a property. I plan to move my girlfriend in when i get the keys. She is coming form a rented property and has no monies to buy the house or contribute any payments in regard to purchasing the house.
However, the plan is for her to effectively rent from me from day one. I have told my solicitor about this arrangement several times (i assume there will be some sort of paper work involved), but he has not noted it at all.
This is a awkward subject to speak/write about but what do i need to do to protect myself in the event of us splitting up? Would she be entitled to any of the house monies etc etc?
Best regards,
PensionKid
0
Comments
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you need to get something in writing from your solicitor.
we just had a client come to us to raise £200,000 to pay off his ex as he failed to get a similar agreement signed.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Does she not need to sign a waiver from your solicitor?
My partner had to on my 1st mortgage.0 -
Thanks for the responses.
I don't know why my solicitor has not answered any of my emails regarding the subject?
Maybe, at this stage, it is too early in the house buying process?0 -
Maybe your solicitor is uselessI am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Possibly. He was recommended by a friend .... you take your chance don't you ;-)0
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Will your girlfriend be on the mortgage?
Will you be living there, or will it just be her "renting" from you?I am a mortgage adviser.You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
No. Her name will not be on the mortgage at all. I will be living there with her 'as a couple'.0
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wewannamove wrote: »Does she not need to sign a waiver from your solicitor?
My partner had to on my 1st mortgage.
From what i've been told, these waiver forms are only good for the bank because they are used by the bank to get the person who signed the waiver form out if the house if it is reposessed, it saves them all the hassle of having to evict that person. not sure how correct it is so maybe someone on here can shed a bit of light on it.0 -
PensionKid wrote: »No. Her name will not be on the mortgage at all. I will be living there with her 'as a couple'.
In that case, your solicitor will not need to do anything apart from get a waiver form signed, effectively she will just be contributing to the bills etc?I am a mortgage adviser.You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
So will the solicitor issue a waiver form after completion and treat it as just a lodger moving in to the property?0
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