What to charge my boyfriend in rent?

marliepanda

Memorex wrote: »

Have a wage of 32000 in total, after tax and student and other totally essential costs it comes to around 1800 a month to use, and stated that as is whats relevant to bf issue. I have also rounded mortgage amount up. Had very large deposit due to inheritance and just made it.

Who is your lender and what rate?

No one should be paying £1100 on your level of mortgage...

Size of deposit is irrelevant, you could have a million £ deposit and it would still be unaffordable.

Comms69

Do you want him to gain rights to your home?


If not, then you can only ask him to pay half the bills.

Comms69

sleepymans wrote: »

BF is a lodger, charge him max rent contribution...and watch him squirm

No he isn't...

hazyjo

General consensus is that your BF should pay half the bills/shopping, etc (get the bills on direct debit so you have a set amount going out each month) - but nothing towards the mortgage, improvements, etc as he could be seen to be developing a financial interest/claim on the property. It's a bit of a grey area, but if you split up then you (presumably) want to minimise the chances of him being entitled to some of its value.

Memorex

Hey, doubled check my spreadsheet. Was including other stuff totally my fault, Im an idiot. Mortgage itself in total for next 5 years 830 a month. Sorry. Manged to borrow 150. Am not the best at maths, please remember your talking to an idiot

Memorex

Thanks, did not know about that

Red-Squirrel_2

I don't think you can afford this house.

You will be living on a knife edge financially if you ever lose your lodger/boyfriend income, and it sounds like the boyfriend situation is a tricky one so you really can't count on that.

How are you going to maintain the house and do repairs? Houses need to be looked after, in the long term they all eventually need things like new roofs, new windows and doors, new boilers, redecoration, new kitchens and bathrooms, new appliances, furniture etc. In the short term, loads of little things can happen that will need spare cash spending to sort.

You won't have enough money to do anything except exist, no holidays, no going out anywhere that costs money, no gifts, no new clothes except from charity shops, no pets, no treats, no gadgets, no Sky TV.

Why would you want to live like this if you don't have to? There must be a better plan!

Red-Squirrel_2

Memorex wrote: »

Hey, doubled check my spreadsheet. Was including other stuff totally my fault, Im an idiot. Mortgage itself in total for next 5 years 830 a month. Sorry. Manged to borrow 150. Am not the best at maths, please remember your talking to an idiot

Well that's not quite as bad as 1100! You'll still have to live on a very tight budget though and be very disciplined about saving an emergency fund for future repairs/maintenance.

How big is this house? I think you might be underestimating your spend on bills. Remember to include council tax, gas, electric, water, TV licence, phone, broadband and home insurance at a bare minimum. Then you've got food, travel costs, any professional fees/union memberships, any debts you are repaying or finance agreements you have, and the miscellaneous day to day costs we all have but lots forget to budget for like toiletries, cleaning products, clothes, shoes, prescription and dental costs etc.

Crashy_Time

Memorex wrote: »

Boyfriend for 3 years I will have you know! but believe me I do have my doubts he does as hes told which is a bonus, what more could you want lol.

200 p.m and make sure he does the dishes, he could do them in the shower to save on electric?

Crashy_Time

ringo_24601 wrote: »

You know that the only way interest rates are going is up, right?

Right...


http://www.bbc.co.uk/news/business-42344170