Moving in with boyfriend and Cohabitation agreement

Tom99

gycraig wrote: »

Do you want him to pay 500 but your gonna keep the 300 separate so he isn't paying your mortgage but it's only gonna get spent on a wedding ?. If you don't get married does he get a refund on what he's paid extra ?

You don't get to disguise it like this he's either paying bills or he's paying towards the mortgage, if he's paying more than bills to you he's gain a beneficial interest

[FONT=Verdana, sans-serif]That's nonsense. Of course you can charge him 'rent' on top of the bills otherwise he is getting free accommodation.[/FONT]
[FONT=Verdana, sans-serif]Just make clear that the 'rent' you are charging him is in no way intended to give him any beneficial ownership in your property. Write him a letter to that effect, there is no need to pay an expensive fee. [/FONT]
[FONT=Verdana, sans-serif]You have stumped up the deposit and are paying the mortgage for your flat so don't feel you need to be in any hurry to give that up.[/FONT]

Comms69

Tom99 wrote: »

[FONT=Verdana, sans-serif]That's nonsense. Of course you can charge him 'rent' on top of the bills otherwise he is getting free accommodation.[/FONT]
[FONT=Verdana, sans-serif]Just make clear that the 'rent' you are charging him is in no way intended to give him any beneficial ownership in your property. Write him a letter to that effect, there is no need to pay an expensive fee. [/FONT]
[FONT=Verdana, sans-serif]You have stumped up the deposit and are paying the mortgage for your flat so don't feel you need to be in any hurry to give that up.[/FONT]

Yes, and if she charges 'rent' she is having someone else pay her mortgage....

Tom99

Comms69 wrote: »

Yes, and if she charges 'rent' she is having someone else pay towards her mortgage....

Yes, correct, what's the problem with that?

Comms69

Tom99 wrote: »

Yes, correct, what's the problem with that?

So she’s living ‘rent free’...?

Tom99

Comms69 wrote: »

So she’s living ‘rent free’...?

I doubt it. She has paid the deposit and I expect the monthly mortgage is a lot more than £300. If the flat was rented what would the monthly rent be? Unless you are in a very cheap area you would not get very much for £600 per month.

unforeseen

So if she charges him rent then I assume that she will declare it to the taxman?

Tom99

unforeseen wrote: »

So if she charges him rent then I assume that she will declare it to the taxman?

I doubt it, sharing bills including the mortgage does not create taxable income.

AnnaNd_2

Hi, thank you all for your very helpful points. Just to clear a few things up:
I do trust him but I've been burnt before so realise that no matter how rosy things are now, unfortunately circumstances sometimes change things and people and I just want to protect my investment. The plan is that he lives in my property for now because we can't buy together due to his circumstances but in say 3 years time I would sell my property and we will buy together 50:50. I don't expect him to help me with my mortgage as can afford myself but I also don't think it's fair that he lives rent free. And it looks like just because I want to avoid potential beneficial interest claims in the future if things go bad, I am not going to charge him any rent, just ask to contribute to half the bills. So living elsewhere he'd pay say £750 but living with me he'll pay £150. This is why I thought of the idea of creating a wedding pot ( it can be in his bank account, I don't mind). And yes if I charge him rent of course I would declare this to taxman.
After having read sooo many different responses, on one hand I understand that the other half is not to be expected to be paying off the mortgage, but on the other hand, a) he's paying off someone else's mortgage now by renting elsewhere, b) why should he live rent- free just because otherwise the law would give him a share of MY property. How is this law fair??

Comms69

Tom99 wrote: »

I doubt it, sharing bills including the mortgage does not create taxable income.

Indeed it doesn't, but benefiting from someone else; someone you claim to care for; is somewhat immoral

Comms69

AnnaNd wrote: »

Hi, thank you all for your very helpful points. Just to clear a few things up:
I do trust him but I've been burnt before so realise that no matter how rosy things are now, unfortunately circumstances sometimes change things and people and I just want to protect my investment. The plan is that he lives in my property for now because we can't buy together due to his circumstances but in say 3 years time I would sell my property and we will buy together 50:50. I don't expect him to help me with my mortgage as can afford myself but I also don't think it's fair that he lives rent free. - Why not? He has no claim on the place, no rights, no say on it... He'd have more protection as a tenant; and pay for that privilege And it looks like just because I want to avoid potential beneficial interest claims in the future if things go bad, I am not going to charge him any rent, just ask to contribute to half the bills. - yes, that is why beneficial interest exists; exactly for this kind of circumstance So living elsewhere he'd pay say £750 but living with me he'll pay £150. This is why I thought of the idea of creating a wedding pot ( it can be in his bank account, I don't mind). And yes if I charge him rent of course I would declare this to taxman. - you don't have to. Because the law assumes you're living as one household.
After having read sooo many different responses, on one hand I understand that the other half is not to be expected to be paying off the mortgage, but on the other hand, a) he's paying off someone else's mortgage now by renting elsewhere - except he gets tenants rights, not the equivalent of a guest , b) why should he live rent- free just because otherwise the law would give him a share of MY property - and why should you get money from him for doing nothing? . How is this law fair??

How is the law fair?


It's simple. You are taking his money and putting it into your pocket, and expect him to gain nothing from it....


I mean 'my property'; you own a lease, and the owe the bank the majority of it. I hardly think the moral high ground is on your side here