Help! Girlfriend bought a house...

mustafa786x

Trust her and just be a tenant paying rent

You would be paying much more rent if renting privately and would end up with no equity regardless,
if you pay £1200 currently and it goes down to £725 you would save £475 a month,
lets say £5,000 a year, if you are there for 10 years you would save £50,000 instead of paying rent elsewhere.

dannim12345

At the stage she started looking for somewhere to purchase you probably had only been going out for 6 months (maybe less) so I think it’s completely fair she bought alone.

As others have said save the extra money and you can use that in the furture for your own place or a joint purchase. Don’t pay for major renovations.

toc25

She must have a decent income to get that kind of mortgage by her self. So why are you the bread winner?

System

Lysimache wrote: »

I'm not sure HMRC recognize lovers who pay rent, though I may be wrong!

Giving money to an partner to help pay a mortgage could be considered rental income.

£725 * 12 = £7800, a smidgen over the rent a room allowance (and if you set it against half the mortgage repayment, only the interest bit counts) and so the bit that goes over the threshold may be taxable.

I know many mortgage companies are fine with subletting without them needing to know, but that's not all of them. Eg RBS charge a £100 fee.

If someone is paying you half your mortgage that is rent if they are not on the mortgage deeeds i.e. then some of it is income from subletting which may need taxing and/or declaring to the mortgage company, even if it's just to help pay the mortgage off. Rent covering the whole of the repayment mortgage is not free of profit, as HMRC only recognizes the interest part of the repayment mortgage IIRC if you go over the rent a room allowance.

Different if she lets him stay for free.

I realise this isn't really relevant to the thread, but I'm not sure what you mean by the bolded part. If you use the rent a room allowance you can't then also claim expenses against your income - it's one or the other.

Pullingmyhairout2

I'd be saving the difference between your rent and what you are going to be contributing towards household costs at your GF's to enable you both to buy together as tenants in common in the future. I think it is too early in your relationship to demand equity in a property that you have not contributed a deposit to. If you had been together a lot longer or had other reasons for her to be buying on her own I might hold a different opinion (regardless of sex).


Also I would like to point out that you state you are the 'breadwinner'. Do you mean you earn more than your GF? If so it is irrelevant. Only your GF's income would have been taken into account when the lender checked affordability.

Lysimache

Ask for a Deed of Trust

x-caitlin-x wrote: »

I realise this isn't really relevant to the thread, but I'm not sure what you mean by the bolded part. If you use the rent a room allowance you can't then also claim expenses against your income - it's one or the other.

Yup, was just mentioning it in case the girlfriend was earning a lot more in rent in future and wanted to deduct rental income from interest expenses.

cloo

I put the deposit down for both the homes my husband and I have owned, though he is the larger earner. We agreed in both cases for a deed in trust that he owns 30% and I own 70% - I would have been happy to give him more, certainly the second time around but he insisted he was comfortable with that split.

C_Mababejive

HampshireH wrote: »

.....as opposed to her saving him a significant amount a month in rent, council tax and bills.....

I guess so but for how long will she "help" him in this way? and all the while time is passing. Time in which he could have acquired an interest in his own property or a share of another prospective partners property to which he contributes as a joint owner in some capacity.

csgohan4

Ask for equity in the house after paying a certain amount

OP you sound great to be with, good luck

JP1978

PasturesNew wrote: »

The trouble here is you've moved in with a new girlfriend and it could go either way ...... best thing is for you to just pay her some money each month and thank your lucky stars you've saved on rent and getting to/from hers to visit her.

Meanwhile, bank the difference in a savings account. If you decide it's not working out you've got your "walking fund" - and if you decide to move/buy together you've got money to bring to the party.

If she chucks you out in 10 years and you've not married her .... then you'll have saved yourself all the insecurity of renting, fees, moving, etc for 10 years.... so just shuffle off with your "walking money" and think "I should've worked harder at that and/or walked myself 7 years ago".

This is pretty much what I was going to say - pay the rent but if shes assuming that you will be moving in and paying rent then dont pay any of the maintenance of the house that you wont ever get back.