How do you get named as next of kin. I'm in a similar position but live with my partner. He earns more than more me.
I am due some inheritance and suggested to be put on the house. But I'd have to pay him half the mortgage so far and continue pay half every month?
But i didnt realise i can just be put down as next of kin. Is this done through the isurance and the mortgage people.
He doesnt seem keen on me being putting on until we have kids or married but then again I'll probably never be earning that much.
How do you go about being put on a mortgage anyhow?
So to clarify, your partner has suggested you use your inheritance to pay half towards whatever he's already paid on his mortgage so far (I'm going to guess he's lived there on his own before you moved in) and also pay half of the monthly mortgage cost, but isn't prepared to put your name on the mortgage and give you equal ownership rights to the property? If you do that you are just giving away your inheritance money to your partner to invest in
his home and you will have no legal recourse to get it back if you split up. If he doesn't want to put you on the mortgage then basically you pay him rent - you wouldn't give a landlord a lump sum investment, it's not your property.
You can't legally name anyone as next of kin - next of kin is the term used to describe your closest living relative, such as your spouse or civil partner (then children, parents and siblings). The way round this for cohabiting couples is to make a will naming each other as beneficiaries of their estates (which can still be challenged by other relatives but it makes it harder for them to claim). For insurance policies that benefit other people if you die you can name the person the policy pays out to when you die.
You can add your partner to a mortgage but they will be subject to the usual income and credit checks and might have to pay stamp duty. The two main ways to do this are either adding them to the existing agreement through a Transfer of Equity, or refinancing the mortgage and switching to a new joint agreement.
I know all couples have their own ways of working out finances but a relationship, especially when you live together, should be a partnership. People bring other things to the table apart from money and it shouldn't just be about who earns the most. I have seen so many friends get burned over the years by moving in with someone who keeps the mortgage in their name, happily takes their money for years and then leaves them with nothing when the relationship is over. There is no such thing as a 'common law partner' in the UK and you still have very few legal rights in regards to property/finances etc. if you aren't married.