New Financial Statement - Living Together

Nannytone

You need to run your circumstances Sarah benefit calculator because she won't lose all benefits if you only work part-time.
Any claims for housing benefit or tax credits would have to be made as a couple anyway so although you have separate bank accounts you will have a financial link and that can't be avoided

John-K_3

MEM62 wrote: »

Reading between the lines I suspect that the OP's other half has approached it from the viewpoint that 'this is what you moving in will cost me and this is the figure I need to break even'. If her budget is tight and she is supporting a family this might not be unreasonable.

Whether the OP accepts that or not is there choice.

Who said romance is dead, eh?

On the side of love, companionship, sharing life, nothing mentioned, on benefits lost, a bill presented.

OP, you’ve posted asking for advice, so here it is, run, don’t walk away.

MEM62

John-K wrote: »

On the side of love, companionship, sharing life, nothing mentioned

Because the OP did not post looking for advice on that aspect of his relationship. I guess he is OK with that side of things and is now looking to see how they can make it work financially.

Karonher

I must admit I agree with those saying you will be double paying. if you pay for your share and then for what is lost you are paying twice. Hope it is just an over sight when the figures were worked out.

You don't have to reply on here, but is the father paying a fair share?

reason2

If the issue is you coming with risk of debts, then surely overcharging you for things you are not responsible for is just heightening the risk.

again i would say you split the bills 50/50 but you are not responsible for any loss in credits and asking for them is selfish.

your financial situation shouldnt be punished with extra costs, he loss of credits are being made up on the 50% savings she is making on household bills.

i dont want to get personal or anything, but the difference between your situations doesn't in any way make her superior nor in control.

bills are 50 50 and that is it.

National_Debtline

StephenSimmons wrote: »

Does anyone know the legal technicalities of this type of situation when creditors want to scrutinize your financial situation. I think someone said it has to be proportional of you and your partners income. For example, if she earned 10k a year and you earned 5k a year, creditors would expect on your financial statement for her to pay 50% more than you. i,e mortgage cost is £600, she pays £400 and you pay £200.

I just want to try and ensure at my next review I am proceeding in the correct way.

Hi again Stephen


You're quite right, creditors want to see you split household bills fairly. If you have the same amount of income, a 50/50 split is fair. But if one person has more income, they should pay proportionally more of the bills.


When you live as a couple creditors prefer to see a joint SOA, but remember your partner cannot be held liable for your debts, and you should only use your share of the spare household income to pay your debts. From what you've told us so far you may find that even with a new SOA you'll still be offering token payments.


Creditors won't be as keen on a budget sheet only showing your income and outgoings, but it's still an option if you prefer. I'd suggest a breakdown of the £850 contribution you are going to be making to your partner otherwise it will be difficult for you creditors to work out whether this is fair. You can get help with your SOA from any of the free debt advice agencies. I hope all goes well.


Susie
@natdebtline

StephenSimmons

Hello again everyone,

Thank you for all the contributions so far. Its very much appreciated. I would like to just clear one issue up that has trended in this conversation. In terms of love, companionship etc, everything is perfect. I want to do right by my girlfriend and for me, I do not want my situation to impact upon her finances. Her current financial situation should not, in my opinion change for me moving in. Fir example, I do not believe she should be any better or most certainly, any worse off. So after much scrutiny with all bills, receipts etc, the total of £850 is what is required from me to her, in order for her finances to remain the same.

To me, this makes perfect sense. If I wanted someone to move in with me, I would not want to carry them or to be impacted upon financially. Generally, both parties would normally gain, in these circumstances that is not the case.

I will obviously be breaking the £850 down in to all component parts, just like I do for my own monthly outgoings when I do my financial statement.

Maybe I will give the national debtline a call to help get some further clarity.