Shared Household Bills/Expenses

CupCake089

Hi all,

I am looking for some suggestions on how to deal with payments for a shared household.

Me and my partner have bought a house together with his parents.

We would like to have an account where we each pay an equal amount in each month. From that account the mortgage payment, household bills, and food shopping comes out.

I realise that opening a joint account will affect everyone credit score. His mum doesn't have a brilliant credit rating so we wouldn't want that to affect anyone else.

We basically need an account which we can all access and make card payments from.

Is it possible to have an account with additional cardholders?

Any suggestions would be appreciated.

Many thanks

Robin9

For you and your partner should be easy - but as a foursome no.

ColdIron

Why does your mum need to be on the account? Presumably she will be paying into the account and only you and your partner will be paying bills via card and direct debits etc. Anyone can pay into your account

Mnd

Because she's looking for a 4 way joint account so her mother can use it

eskbanker

CupCake089 wrote: »

Me and my partner have bought a house together with his parents.

We would like to have an account where we each pay an equal amount in each month. From that account the mortgage payment, household bills, and food shopping comes out.

I realise that opening a joint account will affect everyone credit score. His mum doesn't have a brilliant credit rating so we wouldn't want that to affect anyone else.

Are all four occupants named on the mortgage?

If so, then you're all already financially linked....

If not, then things are presumably more complex and it may make sense to differentiate mortgage payment from other household expenditure and use a separate account for that?