Buying rented home alone but living with girlfriend

marksoton

Whoever said romance is dead......

Pixie5740

Worriedman2016 wrote: »

Wow. I think it's unfair on me if I buy the house and she continues to pay the rent she was paying before but to a different person (me) but gains part ownership of the house.

What if she just pays broadband, gas,elec and council tax but no rent? Will she then start getting ownership rights?

As a tenant your girlfriend has more rights and protections that she would have as your bidey-in (that's live in girlfriend to you Southerners).

A lodger has exclusive occupation of their room. A lodger does not live as one household with their landlord. Lodgers to not build a future with their landlords.

Why is it fair of your girlfriend to contribute towards the capital repayments of your mortgage for your property and not have any beneficial interest in the property? No, getting her to pay all the other bills whilst you build up equity in the property does not circumvent this.

Pixie5740

How bad is her credit history? Have you both contacted a mortgage broker before completely ruling out a joint mortgage?

Can you get a large enough mortgage on your income alone?

AnotherJoe

Worriedman2016 wrote: »

Wow. I think it's unfair on me if I buy the house and she continues to pay the rent she was paying before but to a different person (me) but gains part ownership of the house.

Why? That's what you are planning on doing, you will be paying the rent you were paying before but to a different person (the mortgage lender) and gaining part ownership of the house.

Ozzuk

It's not rocket science, she either pays half the bills (if that is proportionate to your salaries, and if you want to be 'fair') and gains no interest in the house, or she contributes towards mortgage and she gains entitlement to any increase in value/equity pay off. It will still only be proportional to what she puts in.

Just have a conversation with her and agree what you both prefer. I'm in a similar position, my partner has very low income so is just paying towards bills for now, we've agreed we'll review at some point and she'll contribute more.

Just to add my opinion, if you want to benefit out of her by pocketing 'rent' and not given any interest on the house then I'd say that's a little unfair, but really it's down to you and your girlfriend.

Guest101

I don't see the outrage personally.

She doesn't get half the equity for paying a few months.

But if you have a 20 year mortgage and she pays half for all that time, the law may be able to help her claim some ownership

moneyistooshorttomention

I can see this both ways.

I've been the person in a relationship that could afford to buy - whilst the other half of the relationship (ie my boyfriend) couldnt afford to buy. So - should I have forgotten about the fact that I had the ability to buy a home for myself (rather belatedly at that - ie 30s) because my boyfriend didn't have that ability?

I chose to take my chance of buying. The relationship finished some while after that - which it probably would have anyway (ie because I had "more" than my boyfriend in every respect going - so it was unequal). I'm of the generation where that probably wouldnt have mattered to me if it had been the other way round (ie as I'm the woman in a relationship and the other person is a man). (The final chapter in that story being that the boyfriend concerned got the impetus from me to go on and do further studying and get himself a career - which he may not have done otherwise).

For this generation - then, basically, they do things on a more "equal" basis than many of us did and therefore men are also likely to be concerned if the partner can't "keep up with them".

As G_M put it - this may or may not be a step along the road to a full-on relationship (ie marriage etc). At which point it would be a whole new ballgame - what's mine is yours and "all that I have I share with you" etc etc.

Right now - it looks to me as if OP is wondering if this girlfriend will or won't "catch up" with him and start being good with money/etc and the relationship may not last anyway if she doesnt do so. It is harder to have a relationship where one is visibly in a noticeably stronger position. It would be a shame if the "weaker" of the two held back the stronger of the two.

I think OP's house equity should be safe - provided girlfriend doesn't invest any money in noticeable work on the house (ie something more substantial than a few pots of paint for redecorating). But I do understand that precautions need to be take in case he decides to sell his house subsequently - as I believe she would be deemed to have some sort of occupancy rights (even if she didn't have ownership rights).

BlaEm

OP - my partner and I drew up a Living together agreement. Our situation was slightly different - I already owned a flat, which I was selling and then buying a property where we would live together for the first time. My partner had equal earnings, capital and good credit, but wanted to invest this elsewhere.

We made sure the agreement specified that his contribution would be rent, and based this on 50% of discounted market rate rather than 50% of the mortgage. I've paid 100% of any decoration, repairs, improvements etc.

It may not be very romantic, but we both wanted to protect ourselves - I'm not allowed to just kick him out without notice, for example.
We had an open discussion and came up with a solution we were both happy with.

So long as your girlfriend is happy with this plan, then no one elses' opinion matters. Do discuss the longer term plan though - for example, say you get a mortgage on a two year fixed, you can plan for her to spend that time building her credit rating back up.
You say she has almost no money - if this is because she's a low earner rather than frivolous, perhaps agree that the rent she pays will be X so long as she saves the difference to build up her own deposit. This way in a few years you may be in a position to own as partners.

AdrianC

BlaEm wrote: »

So long as your girlfriend is happy with this plan...

And that's where the fun and games start...

Mojisola

Worriedman2016 wrote: »

Wow. I think it's unfair on me if I buy the house and she continues to pay the rent she was paying before but to a different person (me) but gains part ownership of the house.

One way round this is for her to put her share of the mortgage payment into a separate account every month.

If the relationship becomes permanent, that money becomes joint money.

If things break down, she has a lump sum and can move out immediately.