ok its a given you would split the household bills..but what seems to have a differering view among my friends is wether you should also pay half the mortgage, even though its not in your name etc. I think yes as wherever you would be, you would at least be paying rent so whats the difference?!
My friend thinks as the mortgage isnt in her name then its not her responsibility and she would only pay her share if there was an agreement that it would be put into joint names after an agreed length of time.
What would others do?
2007-01-29 09:26:53 · 18 answers · asked by Anonymous in Family & Relationships ➔ Singles & Dating
if she's moved in, then they both need to go and see a solicitor and have an agreement drawn up...
on the one hand she would be paying rent where ever she was...
on the other, the partner is paying off their mortgage which is essentially a loan for an asset which will appreciate in value, but is still in their name...
on that basis, a legal agreement should be drawn up, which states that she's going to be paying towards the mortgage, but only for the percentage which she's putting into the property... that way both parties are equal... the mortgage company or a decent property solicitor should have had ample experience of these situations and be able to advise an equal arrangement...
it isn't her responsibility, as the mortgage will have to be paid either way, but she can't live for free.. likewise, her partner can't expect her to pay half their mortgage without getting some sort of legal financial agreement drawn up as otherwise they would be benefiting from the situation...
its a tough situation, but i hope they come to an amicable agreement on...
2007-02-04 11:59:38 · answer #1 · answered by muppet 4 · 1⤊ 0⤋
The mortgage should be halved. As you say., it is the same as paying rent.
Another thing that you may want to consider is that after 6 months of staying in a place (ie; your partner moving in with you) she will have what is known as a "right to occupy" which means that if you want to throw her out and she wont go then there is nothing you can do. Also she would legally have an entitlement to half the value of everything as long as she could prove that she has been paying into the household. That is whether she was paying half the mortgage or not or whether or not you were married.
Also you could make a will that if anything happened to you, she would get the house whether her name was on it or not.
For this reason I would advise you to have her pay her way 50/50 just in case anything like this were to happen. If she is not happy about it then maybe she is not ready to move in or you could look at buying a new place together.
2007-01-29 21:59:45 · answer #2 · answered by Catwhiskers 5 · 0⤊ 0⤋
I tend to agree with your friend. While it is true that you would be paying rent elsewhere, a mortgage is a totally different animal. In helping with the mortgage, you are essentially investing in some else's property/asset. This is a huge gift to give. Why not just give your mate a few hundred or thousand every month while dating? Basically the same thing. If for some reason, it does out work out, the other person walks away from the deal with substantial gains.
If they were managing their mortgage just fine to begin with, there should be no reason to pay into it until it is under both names or an alternative agreement is reached. Perhaps, you can pay slightly more for other expenses as a compromise. Alternatively, you could agree to split all expenses on a percentage basis according to your income. Or you can even agree that if it doesn't work out, the person will pay back the amount invested.
2007-01-29 10:15:39 · answer #3 · answered by JustTalking 3 · 0⤊ 0⤋
I think it depends on your intentions re the relationship. However I would have thought that if there was sufficient commitment an agreement could be reached about the mortgage. If one person has already paid it for years, then surely they are entitled to a greater share of the house. To put it in joint names implies that the newcomer is unfairly entitled to a half share in the property if the relationship ended. Messy. Don't know the legalities, but you've made me think. I support your friend's view.
2007-01-29 09:38:24 · answer #4 · answered by filmwatcher59 4 · 1⤊ 0⤋
I think your friend is right! If you are going to embark on a 'life' together, then get it straight from the start - this is one of those things that should be discussed before agreeing to move in with one another. Think of it the other way...what if it were your house? Would you want him to pay half the mortgage/have his name on the deeds etc?
Yes - it's Important isn't it?! Resolve it, or one of you is going to get resentful. It will happen, however rosy it is now!
2007-01-29 09:33:30 · answer #5 · answered by Anonymous · 0⤊ 0⤋
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2016-11-23 12:42:52 · answer #6 · answered by inabinet 4 · 0⤊ 0⤋
You have to be careful with this one because there's other things to consider such as: What if tragedy struck? if he died in 5 years time and she had been paying half of his mortgage without her name on it then as they're not married she would be entitailed to nothing and wou;ld be out on her ear. At the end of the mortgage who is going to own that house? not her thats for sure and if he decided to sell it for a profit would he be willing to split it?If she does decide to pay half the mortgage then for her own safety she needs to have proof such as giving him a cheque every month as this would be recorded. then at least if he decides he no longer wants her in his life he'd have to give her either half the house or pay her back what she put in.
2007-01-29 09:45:28 · answer #7 · answered by Elaina k 2 · 0⤊ 0⤋
I think she should help pay definately. However, if the relationship is serious (which as they live together must be) then they should also be looking at putting the mortgage into joint names.
2007-01-29 09:30:49 · answer #8 · answered by Madam Rosmerta 5 · 2⤊ 0⤋
This is something she will have to discuss with her boyfriend and ask him how he feels about it, but it is only right if he asks, that yes, she pays half the mortgage, unless he says different.
2007-01-29 09:34:14 · answer #9 · answered by purpledragonflyjrh 4 · 0⤊ 0⤋
Yes i would pay into the mortgage, but i would want my name on it, if I'm aiding in buying the place i at least want my share.
2007-02-02 11:08:59 · answer #10 · answered by Chill_Out 3 · 0⤊ 0⤋