Should I be paying some of his mortgage?

cybergirl98

Hi, I’m about to move into my boyfriends house. We are discussing rent etc that I would pay. He has a mortgage on the property currently.

At the moment I would be paying a third of everything (including the mortgage). However

I’ve said that I’ll pay half of the bills (apart from the mortgage) because it’s his house as he owns it and I have no share in it.

What’s your thoughts on this? Should I be paying into some of his mortgage? I’ve offered to put that money into a savings account via direct debit to put towards a house deposit with him in the future but he would rather I pay him a third of everything. 

What are your thoughts on this? Thank you 🙂 

pinkshoes

cybergirl98 said:

Hi, I’m about to move into my boyfriends house. We are discussing rent etc that I would pay. He has a mortgage on the property currently.

At the moment I would be paying a third of everything (including the mortgage). However

I’ve said that I’ll pay half of the bills (apart from the mortgage) because it’s his house as he owns it and I have no share in it.

What’s your thoughts on this? Should I be paying into some of his mortgage? I’ve offered to put that money into a savings account via direct debit to put towards a house deposit with him in the future but he would rather I pay him a third of everything. 

What are your thoughts on this? Thank you 🙂 

You are correct in that you should be paying half of all household bills (gas, elec, water, council tax, food) but NOT anything towards the mortgage.

If you can prove you have paid anything towards the mortgage (e.g. say you paid 50%) then you split up in 5 years, then you potentially would have a claim of half the equity increase from when you moved in.

It keeps it much more simple if you just pay half of bills!

MovingForwards

Depends.

If he sees it as your house too the half of everything, assuming you can afford it, personal spends eg phone, car if only one of you drives are paid by the individual.

If he wants to keep it as his house, you pay half the bills and food, personal spends are individual and nothing towards the mortgage. Put a fixed sum away each month into your own savings account, then you've a deposit towards the new house or your own / rental if you split up.

There's a few threads going on asking similar questions, have a read and get ideas from them.

maman

I agree with ideas put forward but where has this one third idea come from? I can't see any logic in that. You wouldn't be eating a third of food etc would you? Unless there's a lodger?🤔

I'd definitely save for a future deposit rather than contribute to his mortgage. Further down the line you might want to put the house ownership on a different footing but just hoping for an interest in equity on his property  which you'd have to prove and possibly pay solicitors just isn't worth it IMO. 

MaryNB

I agree with your proposal. Half the bills, none of the mortgage, equivalent of the mortgage payments into a savings account is a sensible approach. When the time comes that he wants to put you on the deeds or you buy a property together you have the money to contribute. If the relationship ends, there is no risk for him that you will make a claim on the property.

TBagpuss

There are merits on both sides.

If you don't pay anything towards the mortgage, you are getting free accommodation, but on the other hand, it's not costing him any more, and he is going to be better off as you are paying half (or 1/3) of the other bills, despite the fact that , apart from food and losing the 25% council tax discount, these are unlikely to be significantly different. So both of you would be finacially better off than when living apart.

Why not suggest a compromise? Maybe for the first three months, you do it your way - you ca put aside money each month so if things don't work out you have money to cover a eposit, first months rent and moving costs.

Then after that you start contributing but on the basis that you will get back the capital element of any mortgage contributions if you and he separate, and perhaps also have a firm agreement that within 12 months (or when the mortgage next comes up for renewal, if he has a fix at present) you will be added to the deeds and mortgage and you have a declaration of trust which reflects the equity he has and the contributions you've made.

Alternatively, tell him you are happy to pay towards the mortgage but you want a declaration of trust now which makes clear that by making those payments you will be acquiring an interest in the house