Payplan and moving home (no mortgage complications)

[Shaunieboy]

Hi all

 

Me and my partner are currently on a joint DMP with Payplan (in the sense my outgoings to PP are noted in the household outgoings for me, and vice versa)

 

We currently rent a private property and all income/expenditure is based on this place.

 

Her folks are moving abroad and can't sell their property, so asked if we'd like to move in there for the time being. It's a larger property than we currently rent.

 

They won't agree to a tenancy agreement, but will agree to a Licence. In this Licence, it will stipulate they agree for us to live there until they return from abroad, and will lay out what we are expected to pay. This will be the mortgage and all associated bills (everything, basically) as one lump sum payment due on the 1st of the month. This will be drawn up by their solicitor.

 

My issue is they want to keep all bills in their name, and for us to merely pay them an amount to cover their outgoings. The licence would presumably be subject to change as things like gas/electric goes up and down.

 

I approached PP and asked for advice but they were unable to comment on how the DMP may be affected by this change. I don't need to move, it would be fine to remain as we are, but we'd be helping them out by taking over the place and covering their outgoings (mutually beneficial arrangement)

 

I'm just worried things will go south if we go ahead, a creditor might take exception to this and we can't prove our outgoings aside from the agreed payment as per the licence being paid over monthly to the parents.

 

I feel its a non starter, but I worry too much as it is to be quite frank. Can anyone see any issues or offer any advice? If we move in and the DMP falls apart we couldnt resume the contractual payments on the debt.

 

I don't think the move will cost more than we pay now, as their mortgage is less than our rent. The extra on council tax and utility bills will just about balance things out - so we're not saving anything by moving (may cost more).

 

I'm just unsure it is a good move when on a DMP given the circumstances and would appreciate any input!

 

Cheers

[Coughdrop]

The obvious question which springs to my mind is what will you gain by doing this? It isn't your concern to pay their bills for them, and if it may complicate things down the line for you, or indeed cause unnecessary stress and worry, what is the point if you stand to gain nothing from the arrangement?

 

On their return, you will no doubt face the same concerns and issues of potentially having to change everything again. It's hard to see why you would bother from where I am.