To buy a house with my partner whose still married?

[onedaymaybeone]

Hi,

I would like some advice please. I'm divorced and have been renting since. I would like to buy a house but cannot raise enough mortgage to buy in the area I live in now and where DP go to school. I would be £35k short on the amount I need to buy in the area. I know I can afford the mortgage repayments as it would be half my rent but I don't earn enough in my own to get the full loan amount required.

My partner has offered to come in on a joint mortgage with me to make up the difference. We would be joint tenants and he would be paying no deposit and would 'own' a minimal percentage of the house. The reason being he is still paying for his previous property which he is not living in whilst he fights for custody of his daughter through court. Due to the complicated nature of the case he can't get divorced yet.

What are people's thoughts on doing this?

No way. If he’s still married his wife would have a financial interest in the house.

@toomuchlaundry

He’s still married, so legally he is committing adultery isn’t he

Oh dear. Hoiked your judgy pants too high this morning have we?

@onedaymaybeone Literally, what everyone else has said!!

Agree with others. Also rent usually includes maintenance. When it's your own house there are all the added expenses that are normally covered. (Boiler breakdown, repairs, plumbing, roof leaks, service charges, buildings insurance, decoration etc). It may be that your house will need no maintenance but unlikely long term.

Who'll pay if something does go wrong - him or you?
If he currently owns there may be addiitonal stamp duty - who'll pay that? (Depending on house cost that could be significant).
If he wants to sell and you don't will you be able to buy him out?
If interest rates rise and you are stretched - could you cover it?

This seems an ill- thought out plan.

No. If you split up the complicationswiill be horrific.

Even once this is sorted, do not buy as Joint Tenants but as Tenants in Common with your share expressed as a percentage of the property.

^This.
You need legal advice.
I'm also puzzled about custody arrangements. He's going for custody without having a house - how does that work?

You need actual legal advice, not AIBU guesses. Find a firm that does both family work and conveyancing, and start off speaking to one of the family lawyers.

Have you lost your mind ?

@Couldhavebeenme3 not being judgey, but some posters are querying why others are saying he is a cheater, and legally he is

Of course you can do this. You just need to see a solicitor and have certain things put in place.
Many people have slightly complex arrangements. It’s not as simple as “the wife will get half” that’s ridiculous

Post this on legal and you’ll get some less emotive answers.

It’s impossible that anyone could think this could be a good idea. 😂

Have you tried several mortgage brokers or only looked at online calculators? Speak to some. They sometimes know lenders who are more flexible.

True, we were rejected by NatWest, Barclays, Santander and uhmed and ah’d at by TSB. And then when Halifax said we were a shoo-in, we had to triple check with them.

A resounding no from me
He’s still married meaning It’s potentially a marital asset
Too messy too complicated

I know I'm not saying anything new here, but just to add to all the other voices here and make certain that you hear this loud and clear - NO! DON'T DO THIS!

Good grief, such a bad idea, along with getting involved with someone who is not yet divorced. Disaster written all over it.

No, I’d he even certain of his financial position before he is divorced? How long have they been separated?

*is

No, I would not buy a house with another woman’s husband.

His reason for not being divorced sounds like bullshit too.

Nooooooo way. His wife would be rubbing her hands in glee !

As well as being a bad idea, are you sure the divorce is really taking so long because it’s complicated? Have you seen correspondence etc? It sounds like a line to me.

He could act as a guarantor though. None of the issues with property ownership - he just has to pay up if you stop paying / can’t afford it. He can be removed as guarantor once you earn enough.

Completely bonkers idea !
And no way joint tenants as that automatically gives him 50% share! At hbd very least tenants in common and state his Lower %

No way...until divorced his wife has a claim on half his money and any increase on your property on his share. Do not mix your financial situation with him till divorced.

Also agree his reason why not divorced sounds like a line ..is he hoping for full custody...how you know this...is it from him. Be vvv careful with your money and heart here