Moving in & Finances Split

[FairSplitPoll]

We have been in a relationship for 5 years, wedding booked and we want to move in together, how does this look for a fair split of finances?

We will be moving into B's existing house which will need extending. The quote for the extension works is just by coincidence equal to the initial purchase price of the house, so if A pays for the extension and B carries on with the mortgage both will have paid 50% of the house cost and both will own 50%

A has 2 children, their costs such as clothing, trips, hobbies etc will come from A's personal spends, plus maintenance plus child benefit.

B has to pay for a car out of their personal spends. A has a company car.

B has the opportunity to (and regularly does) do over time which hasn't been included in the split. A earns more and is due a 30% pay increase within 2 years.

B will finish paying the original mortgage in 5 years, the additional mortgage loan will run for 17 years but A will over pay to bring this down when the kids leave home.

Both will pay gym membership, mobile phone bills, hobbies etc from their personal spends. A is a spender, B is a saver so pooling all money wouldn't work for either.

Oh just to add, the child benefit & maintenance haven't been included in the above as they will be spent on the children, those figures are just A & B's basic salary.

This is very complicated. Surely you should be talking to your partner about whether they think it’s fair instead of strangers on the internet?

It seems very complicated. What happens if you have children together? Or if one of you is incapacitated due to ill health? I would ring fence B’s initial value of the house to date. Maintenance/child benefit to contribute towards existing DC. Everything else goes into family pot. An equal share of personal spends allocated, after bills, mortgage, car, savings, holiday funds etc. accounted for.

Partner wants to split everything 50:50 but then I would have twice as much money every month left over as he does and it is massively unfair. He shouldn’t be worse off for us moving in together.

There won’t be any children together.

Will the house be in both names or just B's?

Both

How much is the house worth now, as opposed to when he bought it as house prices have changed a lot in the last few years. How much value will the extension add to the house (will it be worth double?). If he paid £150k for a house which is now worth £300k and en extension costs £150k but brings the value of the house to £450k by owning a £225k share each he would be worse off - that’s why I would look at the current value of the current house and the value added by the extension. Other divide looks fine - apart from water as kids can use a lot!

That’s a really good point, we hadn’t even considered that. Will have another chat.

Water is a fixed rate thankfully, not a water meter.