Yes I did, but actually thinking about charging her "rent" and talking about calculations set alarm bells off.
It should be so simple that he shouldn't even need to ask for advice. Half of the bills they jointly consume.
How much rent to charge gf?
- Thread starter FormNazi
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Yes I did, but actually thinking about charging her "rent" and talking about calculations set alarm bells off.
It should be so simple that he shouldn't even need to ask for advice. Half of the bills they jointly consume.
She didn't want me too, she saw the mortgage as her debt and her responsibility (she's had it for nearly 5 years now and I've only known her for 3), she didn't want me to contribute other than bills initially, but I insisted, so she insisted I didn't pay half, hence we went down the fair rental rates for the area.
Plus, if I paid half we would be well into the taxable earnings category, as a couple I think we are starting to see our monetary assets as a pool (though we still have individual control and no joint account) so she didn't see the point.
Soldato
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This.
2 times a day on work days...
and 3 times a day on days off..
Associate
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yep just spilt the bills.
What I meant is that basically, it would be seen as you paying towards the mortgage. If that's what you're doing, it'd make sense for you to be officially on it, then it wouldn't matter how you paid because it's towards the mortage and could never be considered as possibly going in to her pocket as a form of earnings.
That half the average rental in the area thing strikes me as a little odd...
Mortgage payments wont be as much as the local rents so for example:
£100000 with a 80% LTV on a 25 year term
4.0APR = £400 a month
rental in most areas is £550 for a pretty basic place, this will be rent, maintenance and other landlord profit/fees.
with the mortgage, you will never own the place, she will but you are affectively paying half of her mortgage off which she can then profit from...you get nothing, same as if you where renting, correct but at least you can do what you like around the house and its your place and she can just kick you out any time she likes (as can a landlord but notice periods and some laws to protect you).
strikes me as odd and slightly profiteering to charge for half of the mortgage to someone who has no say over the mortgage and house.
just split the bills, not worth the hassle of paying rent or charging rent to a loved one!
Mortgage payments wont be as much as the local rents so for example:
£100000 with a 80% LTV on a 25 year term
4.0APR = £400 a month
rental in most areas is £550 for a pretty basic place, this will be rent, maintenance and other landlord profit/fees.
with the mortgage, you will never own the place, she will but you are affectively paying half of her mortgage off which she can then profit from...you get nothing, same as if you where renting, correct but at least you can do what you like around the house and its your place and she can just kick you out any time she likes (as can a landlord but notice periods and some laws to protect you).
strikes me as odd and slightly profiteering to charge for half of the mortgage to someone who has no say over the mortgage and house.
just split the bills, not worth the hassle of paying rent or charging rent to a loved one!
Soldato
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50% of bills. She can put the rest to paying debt off
kd
kd
Soldato
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If you are both a solid couple, with (hopefully) a future together, then i'd say "clear your debts off first, then contribute to the household" Clearing her debts will benefit you both in the future if you're both serious about one another.
Be glad she isn't a sponger......ensure sloppy joe's are aplenty mind!
Be glad she isn't a sponger......ensure sloppy joe's are aplenty mind!
Soldato
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Yes, but if she earns 50% of what you're earning, AND she's paying off debts, then contributes 50% of the bill won't that leave her a bit short on money?
I can't imagine the outgoings will be that high to cause such an issue.
Plus, if he's got a lot more disposable income, it'll be very likely that nights out to a restaurant, the cinema or whatever else will be paid more by him than by here.
That is the ideal, unfortunately there is a bit of a complication regarding a (very) ex that I won't go in to, I'm not pushing her to sort it as she's very independent.
Being honest, I suspect we'll move to somewhere we both buy together rather than put me on this mortgage.
Soldato
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A lot of this comes down to comfort and trust.
She will probably feel guilty that she isn't contributing, but he trusts her not to be a freeloader. If he's not bothered about the money then all he need do is convince her of that.
He could always say "don't pay me rent, but save a bit each month and we can pay for a holiday when the time is right". I guess this may depend on how good she is at managing money.
She will probably feel guilty that she isn't contributing, but he trusts her not to be a freeloader. If he's not bothered about the money then all he need do is convince her of that.
He could always say "don't pay me rent, but save a bit each month and we can pay for a holiday when the time is right". I guess this may depend on how good she is at managing money.
Associate
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As the house is in my name I pay the mortgage, we split all the other bills 50/50.
Seeing as we're long term we've also set up a joint bank account. We each pay in a fixed sum each every month and all the bills are paid from there. Any money left over pays for holidays or stuff we both want for the house.
Seeing as we're long term we've also set up a joint bank account. We each pay in a fixed sum each every month and all the bills are paid from there. Any money left over pays for holidays or stuff we both want for the house.
Man of Honour
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Yep, that's fair.
I pay well less than half of the mortgage and pay the average of the rental prices in the area for a similar house, and I trust her implicitly. This is just a scheme we came up with to make it easier to set a value as she didn't want to charge me anything, but I felt very bad living there knowing she was paying the mortgage.
When we (she technically) sells, I have no doubt that the amount put back into our joint purchase will be more than fair.
As somebody who has always rented, I still feel like I'm taking advantage with the amount I pay... I've spent my adult life paying off other peoples mortgages as being a UK academic, I am only just getting to the point where I could even consider a mortgage as I approach my 30s!