Partner moving in - money query

[cossette]

Partner and I are mid/late 50s and thinking about living together. I work full-time and he has his own very successful business. Partner rents with rent at £700 a month but has £100k in savings (is 60 this year so no chance of a mortgage). I own my house (£210k) outright. If he moved into my house he would immediately be £700 better off and we would split bills etc - but I wouldn't be massively better off like he would be. What would be a fair way to do this - I don't really want to ask him for rent!

No, it’s not his

And so many unwise posts ….

This is kinda true and not true at the same time, gas & electric will go up abit but not double , if they split all the bills, ( council tax, broadband, phone, water, gas electric, Netflix etc etc, ), the OP is getting her household bills subsidised by upto 50%.

Say you're currently paying £200 per month on bills and he plans to pay half of that £100. But actually, by moving in, your bills increase to £300 per month and he's paying £100, and you end up still paying £200 per month; what's the point?

just noticed your numbers are wrong, if the OP is paying £200 and it goes upto 300 & he pays half, the op gets a 25% reduction on her bills

In your position I would not have this man move into my house.

You say his previous business failed- did he declare bankruptcy? Can he actually get a mortgage?

You have a nice set up, I would think very carefully before changing it.

I'd have a joint account and you
Both put money in equally.

Ask the questions about who pays for redecoration, new windows or kitchen etc.

I think I’d charge him £1000 per month as he’s saving rent plus bills money.

You would charge your partner a grand a month?

Oof, imagine

”my (male) partner wants to charge me 1k a month to move into his mortgage free house”

I can confidently say the poster would be advised their partner is a dick

I have to agree with this.

also if someone posted ‘my dp has said he thinks I should remove in, have no interest in the property or rights (so no security) to it but wants to make a profit off me. He says it’s unfair as I am saving more so wants me to make up the difference’

People would be calling the partner all sorts of names.

oh yeah, “boyfriend wants to charge me a grand a month to live in his mortgage free house”, just imagine how that would go down, but it’s okay to charge a man a grand a month, who say’s double standards don’t exist on this site 😂😂

I’m in a similar position myself. I own an expensive mortgaged property and have a professional but not massively well paid job so I need to live pretty frugally. My partner has a well paid job, no owed property (gave his share of his previous property to his ex as this is where his kids live most of the time) and pays £1.300pcm in rent. We want to move in together so I was going to ask him for £400pcm including bills which seems reasonable. He’s a high earner so I will lose the child benefit I use to pay towards my daughter’s wraparound care. It’s a really tough one… I want to protect my assets but I don’t want to be resentful either. Cohabitation agreements sound like a good idea 👍

400 a month including bills?

Ridiculous.

He should not cost you money.

Half a 4 bed house for his children so two bedrooms for them, for a 100 a week?

All the extra wear and tear.

You must be absolutely desperate for a man to propose such a deal.

Your poor daughter.

Maybe she wants to live with her partner, why are you bitterly against people being happy?

Wow! This is pretty judgemental.

Are you okay? What people have been discussing (if you had bothered to read it) is that in order to protect your assets (property) you don’t ask the person moving in to contribute towards mortgage costs, just the bills. Anyone sharing their bills between two people will automatically be better off than if they’re paying them on their own. If two people have been in a healthy relationship for a couple of years, discussing moving in together doesn’t make them a bad parent or desperate.

@Maplelady I think you can safely ignore the really judgemental poster….

if you have a limited income and big mortgage moving in together makes perfect sense if you have a strong relationship, obviously you don’t want to charge your partner “rent “ as such but going 50/50 on bills ( excluding mortgage), automatically lowers your living expenses and obviously the extra income coming into the household can only help with cost of living and there will more money available in general

cossette

I would seek legal advice from a Solicitor re your property asap and with a view also to getting a cohabitation agreement drawn up before he moves in. Not romantic I grant you but realistic and practical for you. You have to protect your own interests.

BTW he could still obtain a mortgage even at 60 so do not be misled.