Soldato
D) Don't move in with your business partner, seems they are doing a hostile take over! 
Poll: Moving a partner into an owned-home? Finances
- Thread starter ov_sjo
- Start date
How long have you been together? - surprised no one has asked this question yet.
Jono makes some good points that you'd need to think about from a legal perspective.
Ultimately any form of bill sharing can be seen as having an interest in that property.
Also a lot might depend on how much equity you now have in the property. If you're not long into your mortgage term, then that's not so bad. But imagine you're about 75% paid up, and your partner moves in, you'd probably be better continue to pay all bills 100% yourself.
Jono makes some good points that you'd need to think about from a legal perspective.
Ultimately any form of bill sharing can be seen as having an interest in that property.
Also a lot might depend on how much equity you now have in the property. If you're not long into your mortgage term, then that's not so bad. But imagine you're about 75% paid up, and your partner moves in, you'd probably be better continue to pay all bills 100% yourself.
Caporegime
Picture of her will help dictate her market value.
Sargatanas2511 already did and we are still waiting for an answer.
Associate
I was in a similar position with my then g/f (now fiancée) when we purchased a house in July 2015. The mortgage is in my name and based on my earnings only as she has been working abroad for several years and hasn’t had any regular income. I put in a substantial amount more with regards to deposit and fees. We both however pay half the mortgage each.
I looked into getting a declaration of trust drawn up which would state that in the events of a split I’d get initial spend back, she’d get hers back and then any equity gained split 50/50. In the end though we didn’t pay to have this written up. If things ever did go sour I just hope I don’t end up stitched up but hey ho.
Maybe have a chat with your partner about getting a declaration of trust written up for a just in case situation. It also means the terms are documented legally and she’d know she would get any investment made back in the event of a split. I’m unsure how it’d be worded / calculated but the amount returned in the event of a split would only be the amount that pays off the mortgage, not the interest as well as in the full monthly repayment amount divided by two.
I looked into getting a declaration of trust drawn up which would state that in the events of a split I’d get initial spend back, she’d get hers back and then any equity gained split 50/50. In the end though we didn’t pay to have this written up. If things ever did go sour I just hope I don’t end up stitched up but hey ho.
Maybe have a chat with your partner about getting a declaration of trust written up for a just in case situation. It also means the terms are documented legally and she’d know she would get any investment made back in the event of a split. I’m unsure how it’d be worded / calculated but the amount returned in the event of a split would only be the amount that pays off the mortgage, not the interest as well as in the full monthly repayment amount divided by two.
My missus felt like this. She moved into my house but didn't feel like it was her home so we ended up renting mine out and bought a new one together. I put the bulk of the deposit in so we had a deed of trust drawn up so if we did split up I shouldn't get screwed over!
Caporegime
I've been person B twice.
First time, she paid the mortgage, I paid the bills, and all other costs were evenly split between us relative to earnings (I earned about 20% more than her).
Currently I just pay a flat rent, which includes groceries, and my gf pays for all the individual things using that combined with her income.
First time, she paid the mortgage, I paid the bills, and all other costs were evenly split between us relative to earnings (I earned about 20% more than her).
Currently I just pay a flat rent, which includes groceries, and my gf pays for all the individual things using that combined with her income.
Soldato
Look into a living together arrangement, whilst not legally binding on a court it shows clear intention, which they are likely to go with.
It would be superceded should you get married, have children etc but should you both live together and have a sensible arrangement then they have no reason to go against it.
It would be superceded should you get married, have children etc but should you both live together and have a sensible arrangement then they have no reason to go against it.
Associate
had this exact situation. mortgage and all bills in my name which came out of my account. she paid me rent which included all bills. food bill was split 50/50.
Soldato
If person B can demonstrate they are contributing to the household in other ways like utility bills, shopping etc. I believe they effectively claim against Person A's mortgage, should they ever split up in the future.
Can Person B put finances into the mortgage repayments, having sold a property to move in with Person A?
Unless you trust her 100%, get a rental contract drawn up so that she is legally a tenant. If in doubt how to fully protect your itnerests, see a lawyer first.
This... Otherwise you can risk far more money than you realise.
Soldato
I'm person B and we are currently using option C (as I'm still looking for work). This turns into option B at some point, hopefully next week.
Rather than all the negativity, maybe she (or he) wants to move the relationship on as it's been a few years (Youve given us no idea of time frames)
What do you want?
Rather than all the negativity, maybe she (or he) wants to move the relationship on as it's been a few years (Youve given us no idea of time frames)
What do you want?
tricky because even if she pays 'rent' it would be considered by the court to mean she has a share of the house because you were in a relationship (if you break up).
go for B but have her pay ONLY her share of the bills, then you are covered.
You could get her to pay what would be rent into another account - then if you get married etc that money can then be yours as a couple to use, and if the whole thing falls apart she can walk away with that money and you get to keep the house.
go for B but have her pay ONLY her share of the bills, then you are covered.
You could get her to pay what would be rent into another account - then if you get married etc that money can then be yours as a couple to use, and if the whole thing falls apart she can walk away with that money and you get to keep the house.
Can you provide a citation for this, even one example, ever?
Soldato
We're planning to do B when my OH moves in early next year. I bought property before,well completion was after, we started seeing each other.
Plan is she'll pay all the bills and I'll pay mortgage and anything else to do with property. Not quite decided on the furniture/ homeware stuff yet.
She's happy with that. Her parents just went through divorce and she's seen 1st hand how unfair it was to her dad.
Going forward though we'll buy a place together and rent my place out or sell it if needed, though we shouldn't need to.
Soldato
Oh and this is a bit of advice from someone who has been there and got mildly burnt!
If the man/woman you intend to move in, reacts in a weird manner when you suggest getting an agreement written up then think carefully WHY!?
A normal rational adult will calmly discuss the issue and not resort to the "don't you love me? trust me? " and tears routine hoping you back down and give in.
Think very VERY carefully about just how the person you are hoping to share YOUR house with reacts in this situation....
If the man/woman you intend to move in, reacts in a weird manner when you suggest getting an agreement written up then think carefully WHY!?
A normal rational adult will calmly discuss the issue and not resort to the "don't you love me? trust me? " and tears routine hoping you back down and give in.
Think very VERY carefully about just how the person you are hoping to share YOUR house with reacts in this situation....
I had the same. I bought the house while we were together, she moved in about six months later. I know friends who have been burnt so I've done the following:
She suggested paying me more (which would be awesome) but got funny when I suggested a contract. She's saving a fortune, I get a few £ for bills.
- I paid the deposit, all mortgage payments, legal fees, etc.
- I pay for furniture, maintenance, etc unless it is something specific she wants that is small and movable (e.g. framed painting).
- We split other bills such as council tax, utilities, etc with her paying an amount into my personal account.
She suggested paying me more (which would be awesome) but got funny when I suggested a contract. She's saving a fortune, I get a few £ for bills.
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