Boyfriend moving into daughter's house

getmore4less

phebe3 wrote: »

He will be paying her £200 [STRIKE]rent/[/STRIKE]contribution money or so (as food/council tax/water etc will all go up for her).

the simple way to do the split is to think of landlord and tenants/lodgers

everything a landlord would pay for and to do with the house purchase she pays for and he does not.

that's all costs mortgage, service charges, maintenance, improvements, building insurance etc. he contributes nothing that could establish a beneficial interest.

all the costs associated with living in the place they share council tax, utilities, contents insurance.

£400pm(£200 each) into a pot to cover those would seem plenty for a smallish plce depending how far it needs to go, if it is also covering things like food it may get a bit tight.
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the typical suggestion is the live in partner saves the equivalent of the rent towards a future purchase of beneficial interest in the current property or a new one.
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if there is to be a beneficial interest now or some time in the future then that is usually documented with a trust deed.

Plenty of threads on those and how to get them wrong.

phebe3

Cheers everyone...and yes..she IS 25 and I don't want to over interfere so was trying to get my facts straight before I gently hinted something. She manages on her own at the moment and has done for a while..she is and always has been good with money...and has naturally cheap tastes in food (unfortunately not in cars...but it's her money and we have to have some treats for working) She has never got in over her head or had loans, apart from uni in the two years she lived out so is sensible. He does contribute practically as is quite handy and willing to learn too. Will look at the links posted etc

TBagpuss

He won't automatically have a claim. Claims usually arise where people have been together a long time and the person not on the deeds asserts that they had a mutual agreement or intention that s/he would have an interest because of their contributions.

Ideally they should have a cohabitation agreement saying that he won't have any claim (you can point out to your daughter that this can always be changed or revoked later on, but might be sensible to have in place for the first year or two while they are learning to live together!). If she doesn't want anything that formal, then even a joint letter they write up themselves, or an exchange of emails confirming that he'll pay towards bills but won't be paying the mortgage or getting any interest on the house would be better than nothing.

And it would make sense for her to ind out, and keep a record of, the current value of the property and the current mortgage debt, so she has proof of what % of the house she currently owns! That way, in a worst case scenario, if they do split up at some time in the future and he does make a claim, she will at least be able to show what % of the equity was built up before they moved in together and what was built up afterwards, once he started contributing.

However, in short relationships, unless he was making payments directly to the mortgage, carrying out lots of work on the house, or paying an amount which was much higher than half total outgoings, it's unlikely that he would get very far with a claim.

G_M

martindow wrote: »

I'm intrigued. Is this pride that you've successfully fought off a landlady's unwelcome advances or a statement of regret?

Yes.

...:huh:

DaftyDuck

martindow wrote: »

I'm intrigued. Is this pride that you've successfully fought off a landlady's unwelcome advances or a statement of regret?

FINALLY! An explanation for Crashy's insistence on renting! I knew he had hang-ups and commitment issues

DaftyDuck

OP. Very sensible attitude, a light hinting hand. Too much formality at an early stage may cramp blossoming romance.

tom9980

DaftyDuck wrote: »

FINALLY! An explanation for Crashy's insistence on renting! I knew he had hang-ups and commitment issues

Might be an explanation of why he gets cheap rent.....

DaftyDuck

.... or why it's double the average rate!

moneyistooshorttomention

aneary wrote: »

I would draw up a cohabitation agreement but I'm cynical and my mother is a solicitor.

Thirty years back one of the first comments my father made to me when I finally managed to buy a starter house was warning me to be careful to protect my interests if ever a man moved in with me - so that he couldnt get any of my house equity.

I wasnt cynical at that time and the thought hadnt occurred to me that a man might try and rip-off a woman (though I knew a lot of women rip-off men) - but it put a useful little seed into my head and I've always been aware of that being a possibility after that comment from him

-- so yep...protection of asset is in order just in case.

Sea_Shell

Just shows how the world has changed in 20 odd years. when I moved in with BF, he owned his place, and if it hadn't lasted an I would've moved out again, back to M&D's...simples.

I don't think it would have ever crossed my mind that i'd be due something of it. Even if I'd been paying my 'keep' towards ALL the bills/mortgage etc.

We might have had a "whose CD is this" discussion, but that would've been about it.

but I guess it's all down to time-scales...1 yr, 5 yrs, 10 yrs, and the position could be very different, with each party bringing varying £££ to the next purchase etc.