Am I a homeowner or a tenant? My partner owns the flat we live in & we're not married

franwise wrote: »

Thanks, again very useful info!

So by that logic, credit card companies must look more favourably on homeowners? And private tenant implies a lack of stability, you could be evicted at any point, which I don't think really reflects my situation (at least I hope not!!) I supposed my credit rating was good enough when I was a private tenant, and now if I put my rent down as very low, I have a decent disposable monthly income to pay off loans.

Yes got it in one. The person/people with a mortgage are tied to a huge debt and much less likely to default on repayments because of the repercussions. It also means that say your credit card limit was £10k (very common) and you defaulted on it, it means the cc company could chase you for the money and get a charge put on your property so that way they get their money back. As opposed to a tenant who has nothing secure for the cc company to go after, if you defaulted they would only be able to chase you via debt collectors and possible CCJ, but if you didn't bother repaying, they've lost £10k. The risk is higher.

Also, if you put down homeowner and you are not on the mortgage, when they credit check you and see that the mortgage account is not on your credit files, you have essentially lied and they would be well within their rights to place a CIFAS marker against you for giving false info. At the very least it would be flagged on the National Hunter system as a discrepancy so be careful.

franwise wrote: »

And private tenant implies a lack of stability, you could be evicted at any point, which I don't think really reflects my situation (at least I hope not!!)

A tenant can only be evicted following an application to the court and grant of a court order for possession.

You have fewer rights than a tenant. You are a lodger and can basically be evicted at any time.

This is a particular problem for Muslim women who think they're married because they have an Islamic marriage, but it's not recognised in law.

Same situation- I always put either tenant or other. There is no mortgage on the property- so technically if they went looking for the mortgage on the credit files of the legal owner of the property (OH) they would find diddly squat on there as there is no mortgage yet he is not lying about being the owner! So that is a bit daft really.
Still perfectly possible to get high credit limits being a tenant- my mum has limits of 8k, 5k, 5k on 3 cards and she has lived in council properties all her life. Yet OH has just opened a Barclaycard Platinum- Home owner, immaculate credit files, banked with Barclays over 10 years and they only gave him 2.5k which I thought was a bit stingy. He thinks it is a stupidly high limit though and is freaking out about it

Your situation is not ‘incredibly fortunate’ - as a woman I read it with horror! As a formal tenant you’d have more rights. You contribute to a household setup that you legally have zero rights to. It’s utter madnes and if you split up you’ll have nothing. I don’t understand why women put themselves in this position! I currently live in my boyfriend’s flat, but own my own and let it out. We won’t be purchasing a house together until we’re married, and if we don’t get married, we won’t stay together. Do you not talk about these things with your partner? In my opinion, if two people are really committed to each other it wouldn’t matter if one earns significantly less - assets are simply joint assets as both parties bring different things to the table. But I would urge any woman reading this to make sure she does actually have something to bring to the table!

I’m sorry to sound harsh, but this setup seems ridiculously common and it really is not in your own interests. ‘Feeling’ like your home matters not a jot.

I do not get it as to why so many people are saying that if the mortgage cannot be seen on the credit file you cannot call yourself the owner. :mad:
What happens when there literally is no mortgage? What if the house was paid for in cash? What if the house was inherited? What if the mortgage was paid off past the point where it would appear on credit files?
Having a mortgage on a credit file is not the sole way of being considered the owner of a house for credit purposes because not everyone has a mortgage!!! As I mentioned, nothing shows on OHs credit file but his name is on the deeds of the property and he is the legal owner. But yeah wait- he cant be can he as there is no mortgage on his credit file
In my case, the house aint mine and I never pretend it is in any way. I always put tenant or living with friends/family if there is an option.
Get what you are saying stephanieemma but in my case I am fortunate enough that if something were to happen I would be okay. I have a close and loving family and my parents home will be always be mine too so I would not be left with nothing- I would still have somewhere to go. If my parents were not around my sister has said she will take me in. I look after OH due to his mental health problems and he literally could not cope on his own. The situation is probably not ideal to those who do not have such a secure fall back but one size does not fit all.