Paying Parents Mortgage - Struggling to get new home with partner

moneyistooshorttomention

ViolaLass wrote: »

You could also try suggesting to your girlfriend that she find a means of earning more than one quarter of your joint salaries.

That might be easier said than done.

Girlfriend may be one of those (very rare) fortunate people that have a job/career they actually enjoy.

That was something that was priceless "in my time" and I would imagine is even rarer these days.

Add the fact that it may be (for all we know) that they are planning to have children? and, on from there, for girlfriend to give up/put on hold her earning ability?

We don't know the possible personal circumstances in that respect - so it's difficult to comment accordingly on that.

AdrianC

moneyistooshorttomention wrote: »

Girlfriend may be one of those (very rare) fortunate people that have a job/career they actually enjoy.

That was something that was priceless "in my time" and I would imagine is even rarer these days.

Perhaps. But assuming my estimate of her commuting cost is accurate, and guessing that she's spending 2.5 hrs each way for a 9hr working day, she's actually bringing home somewhere around £30/day for 14 hours door-to-door...

I hope she REALLY enjoys that job.

ViolaLass

moneyistooshorttomention wrote: »

That might be easier said than done.

Girlfriend may be one of those (very rare) fortunate people that have a job/career they actually enjoy.

That was something that was priceless "in my time" and I would imagine is even rarer these days.

Add the fact that it may be (for all we know) that they are planning to have children? and, on from there, for girlfriend to give up/put on hold her earning ability?

We don't know the possible personal circumstances in that respect - so it's difficult to comment accordingly on that.

Agree with all that but the g/f isn't happy about the situation. One thing she could do is contribute more.

AnotherJoe

acouplefrommk wrote: »

To shed some light, we are both living in Milton Keynes where the average rent of a 1 bedroom apartment in a commutable area goes for £700 p/m. I commute to London for work each day via the bus/train. My partner commutes to Nottingham daily via the car which after a few weeks, requires more servicing, high diesel costs. She seems basically to be working for nothing then.

Additionally moving jobs isn't as easy for her due to certain contractual agreements. Is she a slave? I find this hard to believe.

Regarding my parents, I wont deny that resentment has developed over time for them to not have a plan about this and with that, subconsciously come to the conclusion that they have become our dependants. Completely understand and agree with some of your views on my situation, I myself have gone through the same thoughts, however I either let them sink or carry on with the way it has been for the past few years. Dad helps out where possible on part time roles, mum is full time and both don't claim any government support or contribute to the mortgage.

Well, you are going to have to break the bad news to them or put up with the current situation.

I am not helping to bypass anything related with tax or inheritance, solely just to help. Being relatively young when I helped out, there was a naivety on my behalf on how this could affect me in the future and now that stage has come, it's difficult for me to just drop the whole thing.

Sometimesyou have to do difficult things

Reading through some of the options, I will have to consider downsizing them if it is going to result in my prospective future, however what I wanted to know was wether there is a feasible option at all to apply for any of the help to buy schemes which I seemingly still qualify for with the exception of the mortgage I really should not have taken on.

No there isnt and why should there be. Your parents unless they have disabilities are sponging off you and dont seem to be helping themselves, and your girlfriend is spending her whole time at her job or in a car effectively working for nothing.

dannim12345

I think you can't go on paying your parents mortgage, you've done it long enough. If they can't afford to buy something else, maybe they will need to rent (and claim some benefits as others have said).

Also as others have pointed out, your girlfriend need to look at her salary vs how much she spends on car/travel.

marksoton

This whole things insane.

An MK to Nottingham commute daily?! I did Southampton to London for 8 years, that was bad enough... And paid for by my company.

You really need to get a grip on this situation. It's untenable.

Cakeguts

I think now might be the time to tell your parents that you can no longer afford to pay the mortgage and then just stop paying it and see what they do. You will get a very good idea of what they are likely to do about their situation if they are presented with the possibility of the house being repossessed.

xylophone

I think now might be the time to tell your parents that you can no longer afford to pay the mortgage and then just stop paying it and see what they do. You will get a very good idea of what they are likely to do about their situation if they are presented with the possibility of the house being repossessed.

The mortgage will be joint and several - they'll chase the OP for the cash- would the OP want a default on his record?

getmore4less

Buy the house of your parents and move into that.

Avoids the duel property SDLT issues frees up some cash for your parents to have deposit on a rental.

They move into rental and sort out their income, there must be tax credits if the there are 2 kids and if still low there will be other concessions.

Work out what the OH really brings in on a £ph basis after all costs.

fairy_lights

Your parents are taking the p1ss.
If they work why aren't they contributing to the mortgage at all? It's incredibly selfish of them to let you pay the full mortgage, what kind of parent does that? What are they spending all their money on?