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DP wants home ownership but not a mortgage

621 replies

Maplelady · 03/07/2024 18:43

My partner and I have been together for three years. I own my house outright and he owns no property, but could raise a mortgage of around 350k on his 80k salary.

He currently pays £600 a month to live and my house but understandably doesn’t want to feel like my lodger forever. I suggested that we could sell my house and put that down a 500k deposit and he could raise a mortgage of say 150k-200k (which he pays and has that as a percentage of equity in the house). He really hates the idea of owing that sort of money to the bank and being tied to a mortgage for the next 20 years.

He’s suggested that I buy a new house from the sale of my current house and my savings (I have 100k in savings) and he pays me a monthly amount and gradually buys a share of my house. Am I right to feel really uncomfortable about this? There’s nothing compelling or exciting to me about selling chunks of a property I already own and can afford. I get that he wants us to feel more like a partnership rather than a tenant/landlord situation.

For a bit of background… I put my ex on my mortgage years ago and it ended up costing me a lot of money when we broke up after a few years. I can’t tell if I’m just being overly cautious because of my past experience

OP posts:
Trytobekinder · 12/07/2024 06:56

I would forgive my husband for infidelity of a sexual nature far more readily than I would forgive him trying to take financial advantage of me. I think the difference is that sexual infidelity is perhaps a sign of weakness or giving in to impulses but taking financial advantage is quite calculated. Somebody has thought, I know, I can take financial advantage of my partner and this is how I'm going to do it. I could not imagine finding out somebody setting out to do me financial harm and carrying on the relationships with him. The stuff about keeping your enemies closer can be taken too far.

I have been married for over 30 years to the same man who, to the best of my knowledge, has never strayed in either respect. We still have very separate finances which we agreed at the very start but we split household costs and the costs of our children down the middle during 30 of those years My husband retired slightly early because of health concerns and I support us both now but that is my choice after 30 years of marriage. In the latter stages of his career, after the earlier part that made my mother think I'd be a young widow, he was less pressured than me and he did a lot of stuff that enabled me to concentrate on my career - he looked after the children a lot as he worked from home before it was a thing. Now he attends to a lot of the household administration and cooking while I continue to work so I come home to a hot cooked meal.

We both scraped by in earlier years to get our mortgage paid off. I ended up working up to the week before my first child was born and up to the day before my second and I was back at work six weeks later after a C-section both times. We drove old cars and the children had second-hand clothes and toys. Most of our furniture was second-hand and so on. I worked all hours like a dog to progress in my career he picked up the slack As a result of this, we are very financially secure for retirement and have a lovely large detached house in a very nice neighbourhood. We put both our children through university - one of them did medicine as a postgraduate in another city and we financially supported him through that.

The idea that if anything happened to my husband I would willingly hand over a share of my children's inheritance earned by my sacrifices (and the sacrifices of my husband) to a grifter like your partner would be completely unthinkable to me.

Your partner seems to have had quite a pleasant life. Previously, he lived in expensive housing. You say that since living with you he has had lovely trips/experiences with close family members and his children. He has paid off his car loan and saved about $20k. And yet he still wasn't satisfied. He thinks he should live in your house with making no contribution whatsoever to the holding costs of your house and that he should get a share of your house or some other house he wants you to purchase together. Meanwhile, he won't have the legal liability of a mortgage but with you ready to pick up the slack if he decides at approaching 50 to set up this new business of his.

As for him saying you are thinking of you rather than us, I'd fall over laughing if it wasn't so sad. He is thinking of he and him and not any us. When my husband received a concerning diagnosis, I realised that I'd been wailing about how scared and upset I was and I felt ashamed when I realised that I hadn't been thinking about him. He told me that I was entirely justified in thinking about how it might affect me and there was nothing selfish about that.

I would have "your partner" out of your house so fast he'd be at risk of friction burns on his heels. My sons would probably be flanking me holding pitchforks.

Arielsmummy · 12/07/2024 07:00

My god no! Do not even consider this at all! He'd be entitled to way too much of your money, you'd have bugger all protection. Your idea is better. Make sure everything is legally documented how much is yours to start, as both the full amount you put down and as a percentage if it increases higher than that amount in the case that house prices will increase over time

Tehehe12 · 12/07/2024 07:06

It sounds like he’s the money orientated one. You’re in a great position financially and he isn’t unfortunately. If you were first time buyers together and both contributed to the deposit, that would be different. But you aren’t first time buyers together.. If I were in your situation I would see his behaviour as a red flag and be looking to make a quick exit with as little drama as possible.

I don’t like the bit about him saying he shouldn’t contribute and essentially dropping you in it to start his own business. He’s not taking responsibility and he’s using you.

Misshavishamsgrudge · 12/07/2024 07:13

My ex used to shout angrily right into my face that I was money mad when he would decide not to pay money towards the household on regular weeks and I was upset as I couldn’t buy food. Food shopping was the only thing he paid for. This was despite me footing all of the money for his business from a previous house sale. The business looked great from the outside, but he spent all of my money and ran it into the ground. This is the reality of most self employed businesses owned by cocklodgers. He could always find money for his drink and entertainment. The house and bills were my problem. As we were married, in the end when I couldn’t stand any more, he took half of the remaining collateral and half of my pension. Don’t be me…I’m still steaming a decade later. I was too worn down and the solicitors costs were too high to keep fighting my case (and he of course claimed legal aid).
you are at a cross roads now and this is the point were you can save your future self from a lot of financial pain and emotional worry.

AnotherEmma · 12/07/2024 07:20

Maplelady · 11/07/2024 22:45

That has gone even more spectacularly badly than I could have imagined. He doesn’t want a mortgage (which is fine by me!) but also doesn’t think that he should pay rent in the longer term. He said it’s irrelevant that he earns twice what I do or would be paying to rent privately if he didn’t live with me. I’m apparently ‘money oriented’ (bearing in mind this conversation was to iron out an issue about finances) and he plans on taking a pay cut because he’s had enough of corporate life and wants to set up on his own. Oh and he doesn’t want to live in this house anymore and I should buy a new one. What a shit show

Edited

When is he moving out, then?

Seriously, OP, it's over. You need to give him reasonable notice to leave. If it was me I'd give no more than a month, and that's being generous.

StopInhalingRevels · 12/07/2024 07:23

When I was being financially abused, I was repeatedly told that I was money orientated, a money grabber, and a gold digger.

He stole thousands. Because I loved him. I literally let him stay in my house and do it to me.

Don't be me OP.

It's galling when you realise this is the real person, but just remember your feelings weren't a lie. It's horrible to know that you were being used when you thought you were loved. That's not love, even though he looks you in the eyes and tells you how much it is. But your love was real. You were genuine and authentic. And he can't take that away from you.

Don't let him take any more of your life under the illusion that he loves you. Find your anger. And be warned, the manipulation will ramp up enormously when he realises he's going to have to be responsible for himself and the abuse when you've had the audacity to stop funding him being the "great giver" to his own children will be extreme. Then you'll truly see what you've escaped from.

Let him know to move out this weekend.

Staringatthewalljustmeagain · 12/07/2024 07:23

It is absolutely hilarious that this guy thinks he is entitled to live for free at your expense. Just how has he come to that conclusion?! Please tell me you’re going to end this now.

Mydahliasareshit · 12/07/2024 08:28

Greedy and unscrupulous man.
I'm so very sorry OP.

Please try and focus on the silver lining here. Accept it as a gift of knowledge and blessing of protection, before it was too late.
Oh. And find your rage.
Big hugs.

KeirSpoutsTwaddle · 12/07/2024 08:47

Ah,@Maplelady

The only reason you have been able to afford to keep him, is because you have been 'money oriented' and so now have no mortgage.

Suggest he also become more 'money oriented' if he wants to live in the house of his choice and reduce his hours at work.

Being what he calls 'money oriented' is more widely known as 'being financially responsible'.

Bless you. What a blow.

Choux · 12/07/2024 08:47

My friend is a lawyer with expertise in this area. I owned the house outright before he moved in and my name is the only one on the deeds. It would be very expensive and pointless for him to try to prove that he has a beneficial interest in the house

I wonder if he also knows this and this is why he wants to persuade you to move house so that he then can start racking up his beneficial interest points. Getting a mortgage might get you focussed on legally setting out shares and protecting your kids' interests which wouldn't give him future financial security.

Also being 'money oriented' is what got you your financial security. He ought to have built up his own financial security over the previous decades.

Shinyandnew1 · 12/07/2024 08:54

He doesn’t want a mortgage (which is fine by me!) but also doesn’t think that he should pay rent in the longer term.

He sounds like a leech!

I would be saying what I want now, which is for him to move out.

Olivia2495 · 12/07/2024 09:00

He needs to be out asap. Don’t let him stay for a month, a lot can happen in that time, like an accident or a health issue.

My friends abusive partner had a massive stroke when they were separating. Guess who ended up looking after him for months. Get him out.

AlpineMuesli · 12/07/2024 09:03

He might have escalated the negotiation so much in the hopes that you’re shocked enough to accept a ‘compromise’ which in reality is a complete win for him.

Risky strategy but I wonder if it has paid off for him in the past.

FancyBiscuitsLevel · 12/07/2024 09:07

I think you need to spend some time thinking - some on here will tell you he has to go now but you can do some thinking. Do you want to spend the rest of your life with this man, knowing that he won’t support himself financially unless he’s forced to, and being with you means he won’t be forced to.

At least you know the relationship he’s offering you. You can’t change who he is so deciding if you want to be with him is with the understanding he’s never going to save or make long term plans, any pension he’s got through work and the state pension will be it.

If you think he isn’t someone you want to spend your life with on these terms, then you need to tell him and end things before he resigns from his current job to set up his business, meaning that he can’t actually support himself.

FancyBiscuitsLevel · 12/07/2024 09:08

Oh and I’d you are happy with your current home, don’t move because he wants a better house but doesn’t want to pay for it.

Whatshappning · 12/07/2024 09:35

I’d say tell him to leave asap but give him a month maximum which is what lodgers get - certainly no longer. You can even play it as a trial separation while you get your head together.

I’d want him out asap for the same reason I’d want to kick out a man who has been conducting an affair out - he is no longer trustworthy and I’d be on edge around him
wondering who this man really is and what else he’s been hiding.

I can’t have someone I don’t trust or properly know anymore living in my house like that.

The level of intentional deceit and how calculating he has been would worry me and make me feel this man is basically a stranger who has been after my assets all along.

Whatshappning · 12/07/2024 09:44

Olivia2495 · 12/07/2024 09:00

He needs to be out asap. Don’t let him stay for a month, a lot can happen in that time, like an accident or a health issue.

My friends abusive partner had a massive stroke when they were separating. Guess who ended up looking after him for months. Get him out.

My childhood friends mum stuck with her husband for another 2 decades because his diabetes got much worse (partly to his lifestyle I think) and he ended up getting his leg amputated and became even more housebound than he already was .

I didn’t know at the time but apparently she was getting ready to leave him just before that happened. Of course not sure if she would have or not but I was shocked when my friends mentioned that many years later.

Andthereitis · 12/07/2024 10:29

He has shown you what sort of person he is. For that be thankful that you can move forward in your life knowing his true self (Although I suspect you might get that fully revealed if you split up)

Sunnydiary · 12/07/2024 11:08

I would tell him to pack up and leave this weekend.

Vladthecat · 12/07/2024 11:24

OP, he is unashamedly trying to claim a stake in your assets without paying and with no financial risk to him.

He’s also trying to shame you into giving in by telling you you’re “money orientated” and selfish.

Remember, he has no shame in doing this but knows exactly what he’s doing.

You have to be bold with him. Have no shame in showing him the door and don’t be taken in if he back tracks and tries to be “ nice” all of a sudden.

He has basically done the big reveal and shown you who he really is.

Unsavoury characters always come across as “lovely” when they’re getting what they want (usually at someone else’s’ expense).When you take that away , they show their other side.

bowlingalleyblues · 12/07/2024 11:53

Sorry the conversation didn't go well OP. I'm in the camp that believes that in not charging a partner rent in a house that I own. However if they earned double what I earned then they should pay a higher proportion of bills (so I would benefit that way), it's not fair that they earn double but you split things 50/50. Given that they have no financial interest in my home, and no security (I could ask them to leave at any time) I'd expect them to save up a serious lump sum so that if we did buy together in the future or we split up and they decided to leave then they would have the resources to do so.

ARichtGoodDram · 12/07/2024 12:01

He sounds even worse than my ex. He tried to buy a share in my flat when I inherited it from my grandparents (I was brought up by them). He worked out that if he paid X amount a month for 3 years it would be 25% of the value. I insisted that he pay it into an account of his own and then at the end of the 3 years he could buy in.

When it came to the end of the 3 years (coincidentally when we split up for other reasons) there were 14 missed payments. What he thought was the “odd” skipped one because of a stag do, or a “few” half payments because of something else was actually over a years worth of missed payments. I knew he’d do that which is why I insisted on him keeping it as if I’d taken it he’d have been convinced he paid more or I’d miscounted.

To be fair to him that actually shocked him into being better with money.

MounjaroUser · 12/07/2024 12:03

I'm the opposite, @bowlingalleyblues. If someone was paying eg £1,000 month rent plus bills and then lived with me (mortgage-free) then he certainly wouldn't be living rent-free! He saves £1,000 plus half the bills, whereas I would save half of increased bills. There's a lot more toll on a house if two people live in it rather than one, but that's not even the reason why I'd do it. I think it encourages cocklodgery.

MounjaroUser · 12/07/2024 12:12

I meant to add - I worked incredibly hard to pay off my mortgage on my own. I'd share that with my children, but not with some guy who fancied moving in and saving rent.

Razorwire · 12/07/2024 12:34

Sounds like he completely spat the proverbial dummy.

  1. unfortunate that he is not seeing any alternatives other than what he wants
  2. seems to be leaving you with “his” decision or nothing
  3. he wants to retire ! With your financial support
  4. if he “leaves” then he is totally worse off.
  5. If you took his deal, he immediately can depart relationship w your money unless you lawyer document your property so that your investment is ringfenced and any increase in value also divided with specified % in your favour.

Does he perhaps think that you value the relationship more than your common sense & financial security? Which is why he is upper-handing this?

Sorry the outcome was so money oriented for him, yet projecting it onto you.

He seems to be not the person or relationship that you thought, looks like beginning of the end. Apologies.

Sell property. New property is exactly 50/50 or another documented split and you invest your extra into funds/shares or properties for your kids.

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