t_benn_1
Member
Registered: 28th Sep 04
Location: Shropshire
User status: Offline
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Right to cut a long story short me and the mrs have split up.
I'm back with my parents.
The house we bought is a 3bed semi worth around 125k now i put 50k down 3 years ago.
The idea we've had is to put the house into my name and her rent it from me, more for the sake i know the 2 kids have got some where safe to stay.
She's agreed to this and i'. happy to do it.
What sort of contract do i need?
Do i need anything to say the house is safe to be rented out?
Also does housing benefit change on how much the house is to rent?
Cheers
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Robbo
Member
Registered: 6th Aug 02
Location: London
User status: Offline
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you may need to change the mortgage to a buy-to-let mortgage (tricky)
to change ownershipm you go via the land registry iirc
youll need a solicitor (each) in any case
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t_benn_1
Member
Registered: 28th Sep 04
Location: Shropshire
User status: Offline
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yea got a meeting with mortgage advisor tomorrow. he sorts most stuff for me as is a friend of a friend.
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SXIBLK
Member
Registered: 9th Feb 10
Location: Barnoldswick
User status: Offline
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if you trust her just set up standing order? or is it more complicated with that ?
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Robbo
Member
Registered: 6th Aug 02
Location: London
User status: Offline
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HAS to be more complicted than that otherwise little recourse should things turn ugly and she simply decides not to pay etc. Sucks as very expensive business but only way to do these things 
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t_benn_1
Member
Registered: 28th Sep 04
Location: Shropshire
User status: Offline
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Has to be into a contract. no way i'd trust someone with that sort of money.
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Andrew
Member
Registered: 5th May 04
Location: Skoda Octavia Estate, Ford Puma
User status: Offline
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Make sure everything is legal and above board and a contract is signed.
I don't trust women as far as i could throw them.
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t_benn_1
Member
Registered: 28th Sep 04
Location: Shropshire
User status: Offline
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Nope nor do i mate, i'm doing it for the kids, gone some shares coming out next week so can get myself another place.
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ed
Member
Registered: 10th Sep 03
User status: Offline
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quote:
Originally posted by SXIBLK
if you trust her just set up standing order? or is it more complicated with that ?
Money tends to fuck things up. The best bet is to do things above board and in the same way as you'd treat any other tenant.
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Twiggy
Member
Registered: 15th Oct 04
User status: Offline
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It will end in tears for sure contract or not!
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chloe16v
Member
Registered: 29th Nov 07
Location: Rotherham
User status: Offline
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i dont think she will be able to claim housing benefits for the house either, you being the kids farther and her ex ect, i know you cant if a family member owns the house, that is something you will have to look into
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Gareth
Member
Registered: 2nd Mar 00
Location: Derby, Drives: EVO VIII MR & pug 308
User status: Offline
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Get a solicitor asap or is there any chance of sorting it out and making a go of things seen as you have kids?
What are you going to do long term? how long can you stick it at your parents?
Fingers crossed for you, not a nice position to be in especially as you put the 50k deposit down.
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Russ
Member
Registered: 14th Mar 04
Location: Armchair
User status: Offline
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You need to speak to your mortgage lender. They'll sort most of it
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Sam
Moderator
Premium Member
Registered: 24th Dec 99
Location: West Midlands
User status: Offline
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What are you going to do if she can't afford to pay you the rent?
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Andrew
Member
Registered: 5th May 04
Location: Skoda Octavia Estate, Ford Puma
User status: Offline
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quote:
Originally posted by t_benn_1
Nope nor do i mate, I'm doing it for the kids gone some shares coming out next week so can get myself another place.
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Rob_Quads
Member
Registered: 29th Mar 01
Location: southampton
User status: Offline
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You need to speak to your morgage lender and they will do 3 things.
1) Charge you a fee for a letter to confirm you can rent your house (was £300 for my wife)
2) Force you to change your mortgage to a BTL
3) Tell you, you can't
You then need to get a gas certificate.
You then need a contract - common contract can be found on the internet.
You need a contract to agree what %age of the house she owns if any
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MarkM
Member
Registered: 11th Apr 01
Location: Liverpool
User status: Offline
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Assured Shorthold Tenancy.
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Gary
Premium Member
Registered: 22nd Nov 06
Location: West Yorkshire
User status: Offline
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Personally i'd sort the legal side of the house being yours etc etc.
Then hand it over to a letting agency. You'll get less money in your pocket but then they will deal with her if she fails to pay up.
they will also offer a maintaince agrfeement too so you dont have to fork out if she breaks anything.
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Rob_Quads
Member
Registered: 29th Mar 01
Location: southampton
User status: Offline
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quote:
Originally posted by Gary
Then hand it over to a letting agency. You'll get less money in your pocket but then they will deal with her if she fails to pay up.
This if often not the case with many of the service agreements. Well not with any real effort at least. All they will have to do is send a few letters saying "Get Out". I know 3 people who have had "premium" agent packages that have then had to work bloody hard once the tennant stopped paying. Estage agents were moving so slowly its silly.
The big problem is if someone doesn't want to pay its actually quite hard to 'legally' get rid of them. It staggering the amount of 'rights' someone whos stopped paying the rent actually has.
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