How can I invest into the flat we re moving in ?

renkin

Hi all,

my girfriend and I will be moving in together in a flat she s going to buy with a mortgage and a deposit made of her parents saving, plus hers.

We'll be living into this flat but it is planned to be sold at some point to finance retirement in another location.

I couldn't take part financially before ( i'm a freelancer and in the UK since a year and a half ) but now my situation is better, I'm looking for ideas about how to invest into the fllat.
I would pay her a rent regardless of what happens, which is 50pc of the mortgage repayments + bills

I was thinking of :
- going the tenants in common route,
- adding money to the deposit,
- and finally paying her a rent that will be used to pay the mortgage and get the equivalent value in ownership, then get paid this amount when we sell the flat later on.

Of course we could split up, which is why i thought any of those option makes things easier in case it happens.

What do you think ?
Thanks

Guest101

If you're paying towards the mortgage you are gaining a beneficial interest in the property anyway

phill99

Maybe she doesn't see you as a long term partner, merely the means to buy a flat. Hence you are not in the equation in terms of home purchase.

missbiggles1

If her parents are helping her to finance this partly as an investment for their retirement, the last thing they'll want is for you to be taking a slice!

hazyjo

Does she want you to gain a beneficial interest in the flat?


If so, as above - just pay half of everything. If not, you should not contribute towards the mortgage or large home improvements.


Personally, I would advise you to save as much as possible, to not contribute towards the mortgage, and to buy somewhere joint once you have an amount near to matching her money in the flat.


I'm guessing you are young, but it's weird you're talking about this property as being something for your retirement. Perhaps you are much older than I'm interpreting.


Jx

missbiggles1

hazyjo wrote: »

Does she want you to gain a beneficial interest in the flat?


If so, as above - just pay half of everything. If not, you should not contribute towards the mortgage or large home improvements.


Personally, I would advise you to save as much as possible, to not contribute towards the mortgage, and to buy somewhere joint once you have an amount near to matching her money in the flat.


I'm guessing you are young, but it's weird you're talking about this property as being something for your retirement. Perhaps you are much older than I'm interpreting.


Jx

I took the retirement in question to be the parents'.

marksoton

missbiggles1 wrote: »

I took the retirement in question to be the parents'.

Me too. And it all sounds rather messy....

G_M

renkin wrote: »

....... ( i'm a freelancer and in the UK since a year and a half )

How long have you known each other?

If no longer (or less) than this, and given that she's clearly decided to buy the property herself, relax and go with the flow!

Contribute to communal expenses like food, cleaning stuff etc, and pay rent - as you'd have o to live anywhere.

When the relationship is ready, move to a bigger home that you buy together.

renkin

Hola all, thanks for the replies ! Let's clarify :

Their parents are already retired. She will sell this new flat later to finance our retirement (or hers, if !!!! happens ) and we know each other for a year and a half.
I'm 33 and she's 37, it's her first time buying a flat.
We wanted to live together for a while and talked a lot about it, so I felt like I should contribute in some way.

All the ideas above are my ideas, so far she's been quite reluctant to allow me in financially.

As you said I'm not part of the equation and that saddens me a little. Maybe I should keep my money and save as much as possible ?
Only contribute to communal and small DIY.

Cheers :beer:

xylophone

Your girlfriend's parents are gifting her part of the deposit in order to enable her to buy a flat.

The mortgage will be in her name only.

She does not appear to want to buy the property with you - you will be living in her home.

You should pay her an agreed rent and your share of CT/utilities/food.

Save as much as you can towards a deposit on a property of your own in case the relationship founders.

If it doesn't, then you can look to buying a property jointly in due course.

PasturesNew

Pay the rent into your own separate bank account. A new "savings" account.

Pay her half the bills.

That way, if you split up, you take your savings; if you don't, then you put that money into the property (or the next one) at some future point.