First time renters.

LocoLoco

Niklas33 wrote: »

He's insisted on opening a direct debit where our wages will be paid into so we can pay the debts etc.

Is this a wise move?

Sorry for these questions i'm sure i sound naive but any advice/tips would be hugely appreciated.

No! Please don't do this. I did exactly the same thing for my 'fiance' years ago - I cleared all his debts and kept him while he set up a 'business' because I loved him and we split up less than a year after we moved in together.

I know when you're in love everything seems possible but so many couples will tell you that money problems drove them apart. If he really loves you - enough to want to marry you and spend the rest of his life with you - then he can wait a while longer to pay his debts off and start with a clean slate and both of you on an equal footing.

I generally try to think positive but you do have to be realistic as well. If you don't find a job quickly you'll be living on your savings - which will disappear quickly if you're not working. You can't afford to live on your own if your bf doesn't pay his share of the rent. With only your name on the tenancy he can just walk out and leave you to deal with everything. With a joint bank account he can use your money to pay his debts and leave you with no savings, no money and a flat you can't afford (which means you'll end up with debt you can't pay).

Personally I'd get a job in the area you want to move to rather than moving there without one, keep your finances completely separate and move in to a room or a bedsit - something cheap that you could afford on your own if things don't work out. Once he's cleared his debts (using his own money, not yours) you can start looking at joint tenancies and thinking more long term. But please don't go rushing in - I know how lovely it all sounds but things can go wrong very quickly

System

5k would be enough deposit round here to buy a bedsit...

Kynthia

Opening a joint account financially links you to each others' credit records, as does a mortgage. So you might not want to do that yet until his credit improves. So I personally would suggest that the rent come out of one of your accounts and the other transfers in half each month. His debts should come out of his account for now. If things work out and you marry then you can reassess to share things more equally. However even many married couples who are sharing their money keep seperate current accounts of one has bad credit still.

He can still go on the tenancy agreement as it's not an in depth credit check like a mortgage. An agency just checks affordability and looks fir CCJs. Be careful you don't pay massive non-refundable holding fees and credit check fees with these agencies as some agencies are better than others.

barbiedoll

I'm sure your boyfriend is honest and it does sound as though he is being responsible about paying his (not huge) debts off in a timely manner.

But please, please do not even think about getting a joint account with him, much less putting your wages in there! You're obviously quite clued up about money, you have savings and you have enough sense to ask questions. He may well be just as sensible but you really won't know until you live with him. Joint accounts have caused all sorts of trouble for people, me amongst them, so please don't do this, at least at the moment.

And what if you can't get a job, or if you only get something part-time? He will have to support you both, is this something that he is prepared for, and able to do?

I know that you want to be together but why not wait a few months and in the meantime, get him to chuck all of his money towards getting rid of that debt? There's loads of suggestions on here that can help him with that, there are always small savings to be had to give him more cash to pay off his loans. Then you should look for a job, before you move down there so that you will be ready to start paying rent when you get a place. You can both go on the tenancy agreement and you'll both be able to pay your way.

Congratulations on your engagement by the way! :j:j

Wyndham

Niklas33 wrote: »

Because i live in Penzance and he lives in Exeter and the distance is quite a long way.

And because he's asked me to marry him.

And have you said 'yes'?

My apologies, I could be adding two and two and getting five here, but the way you're phrased that is interesting. 'he's asked me to marry him', not 'we're engaged' or 'we're going to get married'.

Again, I may be wrong and it's none of my business, but it sounds as if you are having doubts, and if so, you should trust them, and not move forward too quickly.

Whatever you do, don't get a joint bank account until you're ready for it. That will financially link you for several years to come, and that's probably harder to get out of than a marriage!

If you don't quite trust him, trust your own instinct. You can always change your mind later, but once you've moved forward it will be harder to go back.

Sorry again if this is off the mark, and I sincerely wish you well for your future.

swingaloo

Depending on the agent or landlord its possible that they will insist you are both on the tenancy.

When we moved into our rented property my son had to be also on the tenancy as he was over 18. My sister has just moved into rented and the same thing has applied to her daughter. They said its to do with getting them out if the parents were to leave and the adult children refused to move out. Something about its easer to serve notice if they are on the tenancy.

Niklas33

Thank you all for your wonderful advice and tips.


Definitely i am waiting until he has paid his debts off and we can go on as equal partners.

Thanks so much.

LocoLoco

Niklas33 wrote: »

Thank you all for your wonderful advice and tips.


Definitely i am waiting until he has paid his debts off and we can go on as equal partners.

Thanks so much.

Definitely the best way to go Will save you a ton of worry and possible problems in the long run. Good luck to you both

Marvel1

1. Before moving look for a job

2. Insist you both on tbe agreement, not you alone as you are the one who they will come after for rent not your boyfriend.

Niklas33 wrote: »

He's insisted on opening a direct debit where our wages will be paid into so we can pay the debts etc.

Is this a wise move?

No, his debts not yours, he pays them out of his own account.

leanne12345

MatthewAinsworth wrote: »

5k would be enough deposit round here to buy a bedsit...

5k was the deposit I had 2 months ago to buy a 3 bed house:rotfl::rotfl::rotfl: