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OK I'm worried now...
Comments
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JencParker wrote: »If he had made payments directly to the bank/building society I can understand how that may carry some weight, but otherwise, you are not directly contributing towards someone else's mortgage. My own understanding is that banks will not usually take payments from anyone except the mortgagee for this reason.
Interesting that you see it as someone contributing to someone else's mortgage, whereas in reality it is them paying what they would pay if they were renting somewhere of their own.
An appalling situation IMO, and one that should perhaps be advertised more, especially when taking out a mortgage. I doubt many people are aware that by inviting their partner to live with them they are possibly signing away part of their home and the OP's question is an example of that.
It's got nothing to do with what banks (or you) think - it's to do with what family courts think.
See the following for an example where unmarried Partner A bought the house in their sole name, invited Partner B in to pay "expenses" (limited to £100 a week), Partner B walks away with half the house.
http://www.theguardian.com/money/2010/jun/20/mortgage-warning-unmarried-couples0 -
JencParker wrote: »How can you lose something that isn't yours in the first place?
It wasn't as if they bought the house together. He is simply paying living costs that he would have had to pay wherever he lived. Different if they are married, but that is because marriage is a legally binding arrangement, but I find it hard to believe moving a boyfriend into a house already owned suddenly gives them some sort of interest in the property.
I wasn;t particularly talking about loss of cash or property. To me, that is a relatively minor part of the whole situation
It is a relationship between 2 people that has got to the stage of moving in together. I assume they are in love or at least care for each other a lot. It is a trust issue. If the OP wanted a lodger (or rather a partner with only a lodger's investment in his own home), then she should have made that very clear. To make it clear now, may be rather more traumatic to the OP's partner than it needed to be0 -
I wasn;t particularly talking about loss of cash or property. To me, that is a relatively minor part of the whole situation
It is a relationship between 2 people that has got to the stage of moving in together. I assume they are in love or at least care for each other a lot. It is a trust issue. If the OP wanted a lodger (or rather a partner with only a lodger's investment in his own home), then she should have made that very clear. To make it clear now, may be rather more traumatic to the OP's partner than it needed to be
A someone who is old enough to have been around when this was a rare event unless you are married, it would seem that, along with buying a property with someone it opens a can of worms that the marriage laws make quite clear.
What is committed? How committed do you need to be to move in with someone? I think it is a huge grey area open to abuse and am perhaps glad I am no longer in the position where it may effect me.0 -
Bluebirdman_of_Alcathays wrote: »It's got nothing to do with what banks (or you) think - it's to do with what family courts think.
See the following for an example where unmarried Partner A bought the house in their sole name, invited Partner B in to pay "expenses" (limited to £100 a week), Partner B walks away with half the house.
http://www.theguardian.com/money/2010/jun/20/mortgage-warning-unmarried-couples
The article states that Partner A bought the house WITH Partner B as 'joint tenants', so not really the same situation where a boyfriend/girlfriend moves in after you have bought and owned the house independently.
Jones's problems have arisen because she bought as "joint tenants". There are two ways of owning a property. Most cohabiting couples who buy together do so as "joint tenants" where they own the house 50/50 and, for example, the share owned by one partner would pass automatically to the other on death. If you own your home as "tenants-in-common" you can leave a precise share to whoever you choose – you state the exact nature of your share in a declaration of trust.0 -
JencParker wrote: »A someone who is old enough to have been around when this was a rare event unless you are married, it would seem that, along with buying a property with someone it opens a can of worms that the marriage laws make quite clear.
What is committed? How committed do you need to be to move in with someone? I think it is a huge grey area open to abuse and am perhaps glad I am no longer in the position where it may effect me.
To be frank, if you are able to anticipate that you won't be spending the future with someone, then you definitely shouldn't be moving in with them*.
The potential can of worms described in this thread will happen if either you are not committed and you are not switched on or mature enough to make everything clear at the outset...
*without making the financial situation crystal clear, as other have posted.0 -
Are you declaring his contribution towards the mortgage as rental income or is it under the rent a room limit?0
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To be frank, if you are able to anticipate that you won't be spending the future with someone, then you definitely shouldn't be moving in with them*.
The potential can of worms described in this thread will happen if either you are not committed and you are not switched on or mature enough to make everything clear at the outset...
*without making the financial situation crystal clear, as other have posted.
Very true, but I suspect, in the current situation where housing is ridiculously expensive (at least in the SE), there will be many youngsters who will move in together even though they can't be sure it will be a long term relationship. This is where I see it being a minefield, although looking at the links it doesn't appear as easy as may have been assumed.0 -
When my OH moved in with me, he took on all the bills and the mortgage, as previously I was receiving working tax credits as I was only working part time and had young children. We reasoned that if he was renting or buying his own place he would have to pay that anyway, electric and gas etc would be the same whether he was with me or in his own house. That meant he was paying off my mortgage, which benefited me and the children but not him, should anything go wrong. We had a solicitor draw up a deed of trust, saying that if we were to split up, he would be entitled to the money he paid on the mortgage and any major improvements he made to the house, which was only fair as he could have been spending that money on his own house.
Several house purchases later we're married and own our house jointly, but at least we had things sorted should it have gone wrong.0 -
JencParker wrote: »If he had made payments directly to the bank/building society I can understand how that may carry some weight, but otherwise, you are not directly contributing towards someone else's mortgage. My own understanding is that banks will not usually take payments from anyone except the mortgagee for this reason.
"Direct financial contributions can include payments towards:
* a deposit
* monthly mortgage payments
* capital due on the outstanding mortgage."
He gives her half the monthly mortgage payment therefore he is directly contributing towards the monthly mortgage payments.JencParker wrote: »Interesting that you see it as someone contributing to someone else's mortgage, whereas in reality it is them paying what they would pay if they were renting somewhere of their own.
Interesting that you can't see a boyfriend/girlfriend that someone has decided to make a home with as little more than a lodger.JencParker wrote: »An appalling situation IMO, and one that should perhaps be advertised more, especially when taking out a mortgage.
More nanny state intervention? If you're big enough and ugly enough to have a mortgage and be considering living with a boyfriend/girlfriend you should be capable of doing your own research.JencParker wrote: »I doubt many people are aware that by inviting their partner to live with them they are possibly signing away part of their home and the OP's question is an example of that.
If you want to invite your boyfriend/girlfriend to live with you for the long term you are creating a home with them. It ceases to become "my home" and becomes "our home".
If I was with someone who asked me to move in but kept making it abundantly clear that it was their home and not mine I would move out and rent/buy my own place. Similarly if I asked someone to move in with me I would try and make it feel as much their home as mine.
A friend of mine recently split up with his girlfriend of 10 years, 8 years of living together and unprompted he gave her a cheque for her share of the property even though it was only in his name as he felt this was fair since she had contributed towards the mortgage in those 8 years.
Cohabiting couple can have a cohabitation agreement drawn up so that both parties know where they stand but if you're at that stage in your relationship why not just throw caution to the wind and go the full hog and get married? After all marriage is just a contract with some cake.0 -
"Direct financial contributions can include payments towards:
* a deposit
* monthly mortgage payments
* capital due on the outstanding mortgage."
He gives her half the monthly mortgage payment therefore he is directly contributing towards the monthly mortgage payments.
Interesting that you can't see a boyfriend/girlfriend that someone has decided to make a home with as little more than a lodger.
More nanny state intervention? If you're big enough and ugly enough to have a mortgage and be considering living with a boyfriend/girlfriend you should be capable of doing your own research.
If you want to invite your boyfriend/girlfriend to live with you for the long term you are creating a home with them. It ceases to become "my home" and becomes "our home".
If I was with someone who asked me to move in but kept making it abundantly clear that it was their home and not mine I would move out and rent/buy my own place. Similarly if I asked someone to move in with me I would try and make it feel as much their home as mine.
A friend of mine recently split up with his girlfriend of 10 years, 8 years of living together and unprompted he gave her a cheque for her share of the property even though it was only in his name as he felt this was fair since she had contributed towards the mortgage in those 8 years.
Cohabiting couple can have a cohabitation agreement drawn up so that both parties know where they stand but if you're at that stage in your relationship why not just throw caution to the wind and go the full hog and get married? After all marriage is just a contract with some cake.
Ridiculous thing to say - I didn't say anything that could be construed as nanny state intervention. However, purchasing a property usually involves legal advice and it should be made clear at that point of purchase - it would appear from the earlier link that this wasn't made apparent and they had bought as joint tenants.
I have nearly paid off my mortgage and have worked hard over the years to pay for it. The idea that anyone who lived here as a partner could suddenly make a claim on it if we split up does not sit well and I would certainly be discussing/legalising that position beforehand now, however, as I said, it is not obvious at all that someone has a claim on a property that they didn't buy but simply lived in.0
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