How much do you and your partner pay towards mortgage/rent each?

I pay for pretty much everything. Only because I have a regular income and hers is sporadic, as she is self-employed.

I have enough left over for going out and stuff and if I want to buy anything big (like the new bike recently), she pays for it, or we go halves.

We have a young child though so we have to work as a team and she is only earning less at the moment as she looks after him when I am at work.
 
Gilly said:
It really isn't, that makes no sense at all.

If someone earns 10x more than their partner why would that person expect the partner to put the same amount of cash in? It's just an insane proposition.

It's not at all like saying what you said. Not even slightly. It's more like saying 'I can't afford these bills so we'll just not pay them even though you can afford it, otherwise you'll be putting more in than me'.

An absolutely stupid way of doing things.
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It is, but the problem is a lot of women these days find a hotter / better paid guy a few years down the line, and take 50% of the house that they have put 10% of their income into. So it is an absolutely stupid way of doing things by paying, in your example, 10x as much mortgage for her to take 50% of it in the future.

I know a guy who paid 100% mortgage for 12 years whilst his wife, who worked, paid nothing towards it, nothing towards bills and nothing towards council tax, she spent all her wages on clothes and makeup and stuff like that, then after 12 years she cheated on him, it went to court, he couldn't prove she hadn't paid a dime and she took 50% of everything.

Mugs game IMO and another reason why I would buy a house with my business, with me as a sole director, and rent it to myself.
 
2BL back 10 minutes and already posting rubbish.

Rent your own home to yourself. Seriously? What are the tax implications of that I wonder, I trust you've done your research?
 
twoblacklines said:
It is, but the problem is a lot of women these days find a hotter / better paid guy a few years down the line, and take 50% of the house that they have put 10% of their income into. So it is an absolutely stupid way of doing things by paying, in your example, 10x as much mortgage for her to take 50% of it in the future.

I know a guy who paid 100% mortgage for 12 years whilst his wife, who worked, paid nothing towards it, nothing towards bills and nothing towards council tax, she spent all her wages on clothes and makeup and stuff like that, then after 12 years she cheated on him, it went to court, he couldn't prove she hadn't paid a dime and she took 50% of everything.

Mugs game IMO and another reason why I would buy a house with my business, with me as a sole director, and rent it to myself.
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Yes, that's a brilliant way of starting a committed relationship :rolleyes:
 
Wink said:
There's no splitting of bills for us, everything the two of us are paid goes into a joint account and is ours, not mine on hers.

I honestly couldn't imagine doing anything else when you're committing to a mortgage with your partner and setting up to spend presumably the rest of your life with them.
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People are happy working in different ways. I pay the mortgage and my wife pays all the bills and food. Our joint account is for savings and the mortgage, all the wages left is our own. We have been together for 17 years so it obviously works fine for us.
 
PeterNem said:
2BL back 10 minutes and already posting rubbish.

Rent your own home to yourself. Seriously? What are the tax implications of that I wonder, I trust you've done your research?
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Have you? Suprised you have not heard of the "home office" situation. Given what I actually do for a living it suits me very well not just for ownership rights but for tax.

A solicitor said:
If you as the director is also working from home or have made one room in the house as office in that case mortgage interest and other home expenses will be proportionately deductible.
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Don't worry, I don't expect an apology from you :)
 
twoblacklines said:
Mugs game IMO and another reason why I would buy a house with my business, with me as a sole director, and rent it to myself.
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That does sound like an interesting and unusual arrangement. Must be fun when it comes to tax as presumably you would have to work out the taxable benefit of company provided accommodation and then set your rent at a level to reduce that to nil otherwise you end up just throwing money away to hmrc on income tax.

A company would also have to pay tax on any gain when it comes to selling the property.

Certainly an incentive to ensure the company doesn't fail, as I would think the house would be used to pay off itss debts.
 
billysielu said:
If you break up and the house is sold and split, it will be split 50/50 regardless of what you paid into the mortgage.

So if you pay more than 50% it's with the understanding that you'll probably never see that money again.

She'd have to put out a lot, basically.
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This.

You would be crazy to pay me than 50% if your not married. You think you are close at the moment but if you split up she wil get half the property
 
Phantom Shadow said:
That does sound like an interesting and unusual arrangement. Must be fun when it comes to tax as presumably you would have to work out the taxable benefit of company provided accommodation and then set your rent at a level to reduce that to nil otherwise you end up just throwing money away to hmrc on income tax.

A company would also have to pay tax on any gain when it comes to selling the property.

Certainly an incentive to ensure the company doesn't fail, as I would think the house would be used to pay off itss debts.
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Only capital gains tax though. And if you sold the property and bought another one (another asset) you would only have to pay it on the money left over (which if you are good with your books, would be 0).

Obviously if the company goes bankrupt you are stuffed, so just don't!
 
twoblacklines said:
Only capital gains tax though. And if you sold the property and bought another one (another asset) you would only have to pay it on the money left over (which if you are good with your books, would be 0).

Obviously if the company goes bankrupt you are stuffed, so just don't!
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If you are a director of your own company I had assumed it was a private limited company, had I assumed wrong?

As far as I know limited companies don't pay CGT, any gain or loss on dispoal of assets goes into profit which would then have corporation tax applied, buying another asset doesn't reduce the tax as it doesn't hit the income statement until it is disposed of.
 
PeterNem said:
Also a good incentive to reduce the 91% of revenue spent on postage.

9% margins might be good for a large multination retailer, but they're not great for a sole trader looking to buy a house out of it!
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I knew one of you would continue with the witchhunt. Didn't think it would be you really but hey, suprise! ;)

Now, if only you could quote me in context we might be getting somewhere!
 
Phantom Shadow said:
If you are a director of your own company I had assumed it was a private limited company, had I assumed wrong?

As far as I know limited companies don't pay CGT, any gain or loss on dispoal of assets goes into profit which would then have corporation tax applied, buying another asset doesn't reduce the tax as it doesn't hit the income statement until it is disposed of.
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You only pay tax on the profit. If you buy a house for £300k and you sell it for £325k, you pay tax on the £25k, minus anything that needed doing such as window repair, painting, other maintenance, etc.

So you set up a new ltd company, do a director loan of £300k (which means you can get the money back without paying tax on it) and make sure you never make a profit, or if you do, make sure that your expenses cover it.

I really don't see the problem here?
 
Gilly said:
Do you have a victim complex? :confused:

I can't find a witch hunt no matter how many times I re-read this thread.
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Well he is quoting another post to try and make me look stupid, completely out of context of the point I was making in said post, and then claims to know my profit margin even though he doesn't know what price I buy the product for, in one example (I use multiple shipping companies, RM just happens to be one of them, due to ease of access, which I explained but was ignored).
 
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