Partner to move in

kevcarling

Hi folks. 

After being in a 32yr relationship (not married) my partner and I drifted apart and we sold our 3 bed semi and split the difference 50/50. 

I have bought a flat and have £65k mortgage now. 

I have also met another woman who I am really fond of and we have already started discussing she moving in with me. She has a flat but is currently doing up a bungalow to live in, this was started before we met and once she is finished the renovation she will sell it and hopefully move in with me. Now here’s my question. Will she have to buy into my mortgage and have an equal stake in the property? Or if she just moves in, does she have a claim on my property, say a few years down the road if we then separate for some reason?
Apologies if this question has been asked. 

elsien

What do the two of you want to do? Property ownership aside, how will bills etc be split? How will each of you want to protect your individual assets. 

If your partner does pay towards either the mortgage or refurbishment of the property she may acquire a beneficial interest, regardless of the name on the deeds. 

Really, this is for both of you to discuss between you then put the appropriate safeguards in place. 

Mojisola

This is a good starting point -

www.advicenow.org.uk/guides/survival-guide-home-ownership-and-living-together

Scorpio33

If she contributes to the mortgage, or substantially contributes to renovations (for example paying for an extension), then she will have a claim, regardless of if you are married or not. What level of claim depends on how much she has contributed and usually goes on the increase in value since living together.

You can put together a cohabitation agreement, setting out who has a share of what (or even if she doesn't have any claim), but this needs to be done by a lawyer.

Alternatively, you could ask for a sum of money from her, representing 50% of the current equity, then if you split later, she would have 50% of the equity at that time.

Or get her to pay a sum of money towards the bills and ensure you pay for the upkeep of the house, the mortgage and any rennovations.

TBagpuss

Scorpio33 said:

If she contributes to the mortgage, or substantially contributes to renovations (for example paying for an extension), then she will have a claim, regardless of if you are married or not. What level of claim depends on how much she has contributed and usually goes on the increase in value since living together.

You can put together a cohabitation agreement, setting out who has a share of what (or even if she doesn't have any claim), but this needs to be done by a lawyer.

Alternatively, you could ask for a sum of money from her, representing 50% of the current equity, then if you split later, she would have 50% of the equity at that time.

Or get her to pay a sum of money towards the bills and ensure you pay for the upkeep of the house, the mortgage and any rennovations.

She would not be entitled to anything automatically, even if she contribued, but could try to claim a share - the issue would be whether there was any agreement or mutual intention that her contributions would result in an interest in the proeprty.

The bestoption is to discuss your respective expectations and have a cohabitation agreement drawn up - this can say (for example) that she won't be entitled to a share of the hosue regardless of contribtions, unless the teo of you have a further written agreement - and then anything she contribued would be effectively her sahre of bills and anyhing you agred as an element of 'rent' 
Ot ypu could agree that she would have an interest based on her contributiosn to the mortgage but that you would retain the % of the hosue value you have already built up as ewquity, or you could agree anything else that you wanted. 

Since she slo has her own property you may prefer to have an agreement that you will have no laim on her property and she will have noclaim on yours, and that you will split the bills equally whereever you are living a - you can alwy agree something sifferent if the situation changes in future, for instnace if you decided to sell one or more of the proeprties and buy somewhere together , or clear a mortgage . 

kevcarling

Thanks for the replies folks. Looks like a cohabitation agreement is the safest bet.