Deb asks :

Hi Lucy, 

We are about to buy a house with my inheritance, but my partner is the main wage earner. We had a row last night because he asked me if he buys stuff on his credit cards when will I give him money back? I am already putting my 20k of my inheritance in. Do you think he is always going be this selfish?


Hi Deb,

We are about to buy a house with my inheritance

We are about to buy a house with my inheritance

Money is the catalyst for fights in many a relationship, especially when it is about a lot of money.

Put the deposit aside- the contribution to your bills and home should ideally be relative to your wage. If you earn less than him you can both still put the same percentage of your wages into your house, however yours would be less, his more. It is very rare that two partners will earn the same and you should discuss if this is going to be a problem before you move in. If we take into consideration the deposit- the money you put down now, broken down over the years you have a mortgage, might equate to the same as he will put in. It’s all relative. If you are a couple often it can’t be exactly 50/50 all the time.

Another thing to think about is- if you have more of your inheritance left- it might be wise to have something put aside for emergencies. It sounds like the first instalment has enabled you to get the mortgage, however there are always other costs involved you might not have prepared for. It might be sensible to have something left over for the unexpected. What if your boiler breaks or you get a leak in your roof for instance?

It is tempting to get the house exactly the way you want it when you first move in, however it seems like this is only going to land you in more debt. Perhaps you could come up with a plan together on which rooms to decorate and furnish. If you do them all at once, you are looking at a huge chunk of money. You could stagger it over a few years so you are not out of pocket.

If your partner is eager to spend your inheritance, it might be wise to keep the money under your name if you are more sensible with your wages compared to him and pay for things when you can afford them, not get them on credit.   


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