Fair arrangement - new partner and financials

[pancakesallday]

Hello. My partner and I are planning to live together in the future. I have kids with my ex husband who live with me full time. His kids are adults.

He would let his (mortgaged) property and move into my house. He has suggested he pays all household bills (this possibly wouldn’t include groceries, I think we should share this cost). I bought the house outright and don’t have a mortgage.

Would you say this sounds fair?

I don’t want to add too many details but please ask any relevant questions.

If there is no mortgage, can you not just split the bills proportionally?

Yeah if you don’t have a mortgage just split the bills

What about when things break or just need replacing? General maintenance. Would be good to have this decided at the start.

Will he feel resentful paying half when there's only one of him?

So s/he lives there without contributing and pockets the rent from renting out their own property? Even if the rent would only cover the mortgage, partner is paying off the mortgage at OP's expense. Partner's suggestion is fair to pay the bills. Check the legal position though.

Unromantic as it sounds I would seek legal advice from a Solicitor and get a cohabitation agreement re the finances drawn up. It will save you both a lot of hassle in the event this relationship ended too.

Depends on whether he's going to make a profit on letting his mortgaged house. If so, I think he should split half the profit and pay half the bills incl. groceries

I don’t think this would be enough contribution, personally. Looking for others’ views though!

The rent he gets would cover his mortgage.

Why would splitting the bills not be enough contribution? Surely that would be more than fair considering you still have kids at home.

But then he has the rent he's collecting on his own place and the OP has nothing extra. Both benefit from halving the bills.

So you think it's fair for him to rent his place out, keep the money to himself, and pay only half the bills at her place?

I’d get legal advice to make sure he can’t claim your property

A few things I’d consider;
will his rent cover his mortgage
is their a big discrepancy in what you earn
are you looking to live like a family… even if this is further down the line

I wouldn’t split the bills 50:50. You could look at proportionally contributing to a joint account.

Do you have a similar income?

I’d split the bills 50/50 and no rent ( there’s 3 of you and one of him so he is contributing more than his share )

it’s not going to cost you any more your house is owned outright
I can never understand why people who jeopardise there security of sole ownership for a few hundred pounds a month

Yes, yes and yes. He earns at least 2.5x more than me.

No, he earns at least twice what I do. I have 3 kids to look after and I can only work so many hours.

Would I jeopardise ownership if someone helped with the bills?

I have 3 kids actually so it’s a big discrepancy.

Are your kids happy for him to move into their safe space. I also think he should contribute towards the bills and food.

How old are your dc and how much are you working? Do you get CM for them or do you expect him to pay towards them?

Ugh no fucking way..he gets to make more money while the kids are cramped with this new man in their own home. I can see why he would like to do this.

Well if he’s paying for all bills he’s effectively paying for three DC that aren’t his, that’s a good deal for you if you’re mortgage free then suddenly bill free too!

id check but I was under the impression it’s only if they contribute to mortgage which rent can be seen as when your partners
or he invest by making improvements and increasing the value

Running cost are consumables not investments

but I would take legal advice

He pays bills and 1/3 of the groceries. You pay 2/3 of the groceries.

I’d split bills and groceries 50:50.

He has a mortgage, but it will be covered by rental income; you have no mortgage - so you’re even on housing costs.

He earns 2.5x your salary, but you’re responsible for 4 people (you plus three children) while he’s just responsible for himself.

so 50:50 feels equitable to me.