Mortgage query

[daisydude84]

Hello,

My question may sound bit daft to some of the readers but it really puzzles me at times. Say if you have bought a house with mortgage and few months down the line if your girlfriend or a relative wants to move in with you ? Is it possible legally and if it is not what are the potential drawbacks etc. I guess the person moving in will have no obligation and happy to sign any documents that they will have no interest in the property etc.

I would be grateful if someone clarifies this please.

Yes perfectly legal! If you're on any benefits like Working Family Tax Credit, you will be reassessed if you're living together as a couple, but presumably the person moving in would split bills or pay rent to you to cover their costs?

Don't add them to your mortgage, then they have no later claim. Even if with you for years and can show investment in your property, as they are not on mortgage legally they would have to acknowledge the house (equity) is yours.

Not sure a judge would agree with your 2nd point chocmallow... if the other person pays half the Bill's they will have a claim for half of an equity accrued since they started paying half

Chocmallows does this mean I will have to get permissions from lender (bank) if another person is moving in even if for short duration. I don't want to add anyone to my mortgage as this will cause issues later down the line. However I am happy to split my bills if its possible to do so? or in case of elderly relative its mainly to look after . Lots of thoughts in my mind as I want to help my mum as she been living alone etc or my g.f in case she wants to move in once im settled at new place.

Just get them to sign saying they dont have any rights over the equity.
Maybe a lodger agreement if they are paying towards bills

If the person pays money towards bills, (their living costs) and not home maintenance, (mortgage/home improvements), they would find it hard to show beneficial interest.

Having a written agreement from the start may protect both of you, as presumably you like and trust each other now?

www.moneyadviceservice.org.uk/en/articles/protecting-your-home-ownership-rights-during-separation#property-owned-by-one-of-you