Boyfriend/Lodger/Non Borrowing Occupier?!

hanfrangipane

Confusedandneedhelp wrote: »

Presumebly if things go well, you two will live together long enough for everything to be 50/50 anyway, and if you marry its 50/50 anyway.

Basically im saying it's very sensible to discuss this now, but if you blieve you have long term future potential, dont get too hung up on this.

If he wants to pay, let him. You dont even have to tell him its going in seperate account. You know hes contributed and he knows hes paying his way. Win / Win.

But if you split up, you have the seperate account to show his 'equity' and it's alot less hassle to sort out.

Good luck though, sounds like two sensible people making sensible decisions.

Thank you very much - we're both excited so I don't want to take the shine off it by overthinking things too much where it's not necessary.

Neither of us are a 'this is mine, this is yours' kind of person and anticipate that in the end everything will be shared 50:50 anyway. So discussing things like that invariably ends with us saying this but, like you say, it's sensible to consider it should things go pear shaped!

BlaEm

hanfrangipane, I am in a very similar situation. My OH and I are pulling together a Living Together agreement where he declares no beneficial interest in the property.

We're going to split all utility bills down the middle. Any homeowner specific bills (ground rent, buildings insurance etc, maintenance) will be my responsibility; and furniture we bring in remains the original owners and anything we buy together would be jointly owned.

As for the amount of rent - I see a lot on these forums about the non-owner cohabiter seemingly getting a raw deal, paying money with no equity benefit. But as your OH and you point out, he would have to be paying rent anyway and we both think an equivalent 'lodging' rent (i.e. less than 1/2 of if you were joint tenants somewhere) is fair.

My OH has significant savings and could easily match my equity in the house - he has chosen instead to invest his money elsewhere; so he will get all of the risks/rewards of his investment and I will get the risks/rewards of my property, and he will pay towards a 'rent' which he would be paying elsewhere anyway.

In a couple of years, if/when we move again and both our 'investments' are free from fixed terms, we can buy together

You and your OH sound very practical and want the best for each other, good luck

hanfrangipane

BlaEm wrote: »

hanfrangipane, I am in a very similar situation. My OH and I are pulling together a Living Together agreement where he declares no beneficial interest in the property.

We're going to split all utility bills down the middle. Any homeowner specific bills (ground rent, buildings insurance etc, maintenance) will be my responsibility; and furniture we bring in remains the original owners and anything we buy together would be jointly owned.

As for the amount of rent - I see a lot on these forums about the non-owner cohabiter seemingly getting a raw deal, paying money with no equity benefit. But as your OH and you point out, he would have to be paying rent anyway and we both think an equivalent 'lodging' rent (i.e. less than 1/2 of if you were joint tenants somewhere) is fair.

My OH has significant savings and could easily match my equity in the house - he has chosen instead to invest his money elsewhere; so he will get all of the risks/rewards of his investment and I will get the risks/rewards of my property, and he will pay towards a 'rent' which he would be paying elsewhere anyway.

In a couple of years, if/when we move again and both our 'investments' are free from fixed terms, we can buy together

You and your OH sound very practical and want the best for each other, good luck

Thanks for the reply - it's useful to see the perspective of someone else in the same situation.

I discussed it all with him last night and we're in agreement over what we think is fair. He will pay a rental contribution that he wouldn't expect to get back which is equivalent or cheaper than his current 'lodge'. If he wasn't moving in I would get a lodger so he thinks it's unfair for me to lose out on that element of income but I also don't expect him to contribute half of the entire mortgage. He will very much be getting the benefit of a lovely large house for less than the cost of his current bedroom in a house share!

Similar to you, we will probably split furniture etc and if the worst does happen then I will pay him back his half less some wear and tear/usage. If we stay together then it becomes joint.

My boyfriend is cash rich - he earns well and isn't a big spender. He could afford to 'buy in', we're just not quite ready for that yet. He can do what he likes with that money and I have the benefit of the house being mine until we both decide otherwise.

Works for us! Nice to hear that it's not as daft as some people make out regarding building a beneficial interest.

Hope it goes well for you too - good luck