Estate Agents In York

Monday, September 28, 2020

I'm buying a property with my sister – what happens if I move out?

I’m wondering whether I should still pay the mortgage and other bills if I move in with my partner

Q My sister and I are first-time buyers and like many others we want to take advantage of the stamp duty holiday. Neither my sister or I can afford to buy on our own. I’m currently in a long-term relationship and when my partner and I get married it is likely that I will move into his house. This will probably happen in the next few years. I don’t intend to have any ownership on his property so my contribution would be towards bills.

A property with my sister would be an investment for myself particularly if things do not work out with my partner. This property would be for us to live in with a 50/50 split. However, if/when I move out, should I still pay the mortgage? It didn’t make sense for me to pay a mortgage for a property that I’m not living in. Having said that I won’t be paying towards the mortgage at my partner’s place. Any advice would be greatly appreciated.
HR

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