How to make this fair is it even possible?
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SuseOrm
Posts: 489 Forumite
So I own two properties and have about £120,000 in equity across the two.
I would want to keep both of those properties whilst moving in with my partner.
He claims he is asset, rich, but cash poor, but actually, neither of those are true, really. He earns about the same as me, but the truth is he Mortgage up to the eyeballs. He has a big house which is basically a big liability, so his thoughts were that when his son was a little bit older, he would downsize, and potentially we would pull our resources and buy together
I have absolutely no issue with him ring Fencing his deposit and I would match it
The problem is in the meantime, I definitely want a trial run before we buy a property together, Which us suspect would involve me renting out my house . But what happens to the rental income?
I have absolutely no issue with him ring Fencing his deposit and I would match it
The problem is in the meantime, I definitely want a trial run before we buy a property together, Which us suspect would involve me renting out my house . But what happens to the rental income?
My thoughts are that that would be my money.
I’d be happy to split the bills with him, but I don’t intend to pay anything towards a mortgage, that ultimately would And wouldn’t benefit me and But effectively I could be asked to leave the property in a heartbeat.
His thoughts are then that he has facilitated me building up the pot that I would actually use as my deposit on the new property, and therefore almost seems to feel like it’s his money anyway. So he’s putting down the whole deposit.
I’m also particularly unhappy about the fact that we currently don’t do very much together on the basis that he’s up to his blooming eyeballs in Debt. I could’ve done something similar, but I chose the two modest properties to make sure that I could have a life as well
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best to stick to one thread - I think you're better off on the other forum and not on the mums one.
Can this be fair? How how would you go about it? — MoneySavingExpert Forum
"Never retract, never explain, never apologise; get things done and let them howl.”2
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