Just wanting some advice or experience.
Me and my DP are hoping to move in together later this year once I've completely an extension on my new home.
I divorced last year and from the sale of my family home I was able to put down a sizeable deposit of 160k on a beautiful house, it's needing an extension and renovation so probably spending in the region of £60k to do this. The house was originally bought for 250k however after works have completed I'm guessing it will be worth in the region of £400k.
I want my partner to move in with his 3 children being there 50% of the time. I have 2 DC of my own, and this house is my security for them and myself (I have no pension). I therefore don't want him to be on the mortgage or be named on bills etc as we are only a year down the line and from past experience I know unexpectedly relationships can go wrong.
I hate finances being my concern but I'm wondering how best to manage the finances of the house... would he pay me rent? Would we just split the cost of running the house down the middle. Am I better seeing a solicitor to get something written up?