What is my residential status?

gridley

Hi, I am updating my credit profile on clearscore and i’m Unsure what to put for residential status. I live with my fianc!e (we’re getting married in April) and she owns the home in her name. I pay her half the mortgage, bills, shopping etc. Am I a homeowner or private tenant? There is no ‘other’ option. Help would be much appreciated.

bengalknights

You would be classed as a home owner

gridley

Anyone else agree that I should put homeowner?

BakingC

I am in the same situation and I say private tenant. Do you also pay for building insurance, any repairs that are required etc that would indicate an interest in the property?

I do not pay for any repairs / fixtures so I view my arrangement as having a private tenancy where the "rent" is equal to half mortgage / service charge payments.

gridley

I contribute to buildings insurance and I pay for contents insurance.

spadoosh

Your name isnt on any deeds to suggest you own a home. You might have an interest in one but i cant see how you are a home owner.

he reason i dont say im a tennat even though techincally i arguably am (my property is mortgaged) is because its my name on the title deeds.

Id say youre not a homeowner.

kwame41

I dont think you can be classed as a homeowner if the mortgage is solely in your fiances name.


When you say you contribute to other costs do you mean you just give her the money?

gridley

Yeah I pay the money to my fianc!e every month for half of the mortgage, bills etc. We bought the house under her name to take advantage of an affordable homes discount.

spadoosh

gridley wrote: »

Yeah I pay the money to my fianc!e every month for half of the mortgage, bills etc. We bought the house under her name to take advantage of an affordable homes discount.

Maybe your a HINO (homeowner in name only)

Youre still not on the title deeds. I appreciate theres clearly an arrangement in place but without knowing the full extent of that arrangement and with as distinct lack of your name under the title deeds of the property you cant immediately prove you are a homeowner.

In your circumstances you would need to go to court to prove you have an interest in that property and thrash it out (unless of course everything is amicable which is what youd expect from an arrangement).

Your OH could sell the house and by the time youd got around to stopping it it could be sold. You cant do that. Your OH can secure thigns against the property. You cant.

kwame41

If we assume the OP's other half isnt about to betray him in some way, the question was about his status.

Ive had a quick look here:-

https://forums.moneysavingexpert.com/discussion/4771552/residential-status-options-not-applicable&page=2#topofpage

Tricky one, because the OP doesnt fit the technical term for any.

If push came to shove I would go for private tenant.


P.S. Keep your fiance happy because currently she's holding all the financial cards :-)

Thrugelmir

gridley wrote: »

Yeah I pay the money to my fianc!e every month for half of the mortgage, bills etc. We bought the house under her name to take advantage of an affordable homes discount.

The outside world will have no visbility on this. As matters stand you aren't currently a homeowner.