I bought a house with my best friend after a messy divorce - but it posed an awkward inheritance question

Daily Mail​

6 hours ago

A homeowner has revealed how a painful divorce left her working two jobs and fearing for her future - but says the decision to buy a house with her best friend means she's now looking forward to her retirement.
Belinda Allen, 63, who lives near Crediton in Devon, is one of an increasing number of people who are snapping up property with friends in the way married couples usually do - because you can halve bills with 'zero emotional tension' involved.
The former regional radio station MD says the decision to buy later in life with her closet pal has taken her from being a stretched single mum living alone to co-owning a £1 million eco-home that's letting her live the Golden Girls dream.
Belinda had been married for 18 years and had two daughters, then aged 13 and 14, when she split acrimoniously from her late husband in 2000.
The years after their separation were marred by her wealthy former partner's determination to squirrel money away from her - she says he was hellbent on trying 'to make life as difficult as possible for the three of us.'
Speaking to MailOnline, the 63-year-old says that after he initially agreed to a joint mortgage on the house that Belinda and her daughters were to live in, he secretly transferred the account solely into her name.
She says: 'In the four years it took to go through the courts, he had sold the family home and everything had disappeared offshore through a myriad of Guernsey, Cayman Islands and other offshore companies.
'Life was tough and I often had two jobs on the go to make ends meet.'
Tiny bills and zero emotional tension: Belinda Allen, 63, and Jane Cornelius, 73, from Devon have been friends for 30 years. In 2021, the pals decided to pool together their resources and buy a house
After each selling their respective homes, they moved into their £1million eco-home, Mulberry, near Crediton in Devon, and now share 50% of all bills - divorcee Belinda says the arrangement 'really works' for both women
Despite her lawyers' best efforts, nothing could be traced from an estimated £5million pot of funds beyond one small pension which, says Belinda, her ex had been unable to move.
The fall-out of her marriage left her emotionally 'bruised', and swearing off romantic relationships but, she says, the experience also shone a bright light on how behaviour can quickly change when large sums of money are involved.
'It showed me how money corrupts and it made me even more determined to forge a new path and at the same time ensure the girls did not miss out in any way.
'He had no contact with either of the girls after 2001 and tried to make life as difficult as possible for the three of us and indeed my parents.'
Her ex partner moved to France in 2005 and the family heard nothing from him, until they discovered he'd died in a French hospital in 2015 after a long illness.
Belinda, who now works part time, continues: 'I vowed never to marry again and indeed the single life suited me.
'I was successful in a new career in commercial radio which, over a period of 12 years, resulted in my being RMD of a group of radio stations.'
Despite being happy living alone, Belinda's decision to go halves on a motorhome, nicknamed 'Doug', with a friend of 30 years, Jane Cornelius, also from Devon, who she'd known since the late 90s, set the wheels in motion on a much grander plan.
A difficult separation in 2000 left mother-of-two Belinda in a tough position financially after her late husband put an estimated £5million fortune out of the reach of herself and her two daughters, leaving her working two jobs and effectively a single parent
While Belinda, who still works part-time and draws down from her private pension to help pay for her love of travelling, says selling two houses to buy one wasn't easy, it has worked out
When Belinda posted about her experiences on Facebook, the post had nearly 900 comments, most of whom from people who loved the idea of buying a property in later life with friends
'By pooling our funds we could get something better but also split the cost of ownership. We travelled a lot together to various parts of the globe and it was great to have such a good travelling companion.'
Belinda and Jane's motorhome adventures offered an unlikely taster for a situation that's still rare but appeals to many singletons - living with a close pal in your twilight years.
'We are total opposites but somehow just got on really well. I am the adventurous one and she is the sensible one!
'A relationship/friendship without the emotional tension is a game changer and I highly recommend it.'
It worked so well that when Doug floundered, they upgraded to 'Hattie' the motorhome, which they still share today.
The pandemic proved pivotal to their decision to invest in bricks and mortar together though.
Fearing loneliness, the two friends decided to temporarily move in together, with retired teacher Jane leaving her home in Exeter and moving into a room at Belinda's house in Tiverton.
'I was still working and furloughed and Jane had retired in 2012. For once, rather than chasing around, we sat for many hours chatting and started to discuss the future.
'We both had our own houses with all of the costs that incurred. We decided that we would sell both and move to a village where we could enjoy village life and peace and quiet.'
Jane (pictured) takes care of the house while Belinda deals with the garden, with the retired teacher escaping to friends' houses when Belinda's two grandchildren come and stay
The friends also share their home with Belinda's dogs - and have signed a Deed of Trust on their property, which means if one of them dies, the other has the right to stay in the house for the rest of their lifetime
Belinda, who is currently four years from receiving her state pension and draws down from a private pension to fund her travels, warns the buying process, as is often the case when selling two houses to buy one, wasn't straightforward though.
After a few false starts, including loving a house only to discover you could hear the dual carriageway nearby while in it, they finally found their dream friends pad, an eco-friendly home close to the town of Crediton in Mid Devon.
'I thought it was perfect and ticked every box. Not only was it A+ energy rated with the promise of very low future running costs but it had the most amazing view. I arranged to go back with Jane and she loved it too.'
However, when Jane's house sale fell through at the 11th hour, they both had 'a few sleepless nights' wondering what their next move should be.
The two friends decided to 'raid every pot available so that we didn't lose the purchase' and they got the keys four years ago this month in June 2021 - and haven't looked back.
'Jane was a teacher and has the benefit of a lovely pension and I still work part time - in a job I really enjoy - but I have to say it really works.'
The friends have carved out their own separate roles in the home: 'Just as we have always done in the motorhome. I do the garden, Jane is house and I am definitely the cook!'
When Belinda's two grandchildren, aged two and four, come and stay, Jane politely decamps to friends' houses to swerve the chaos.
And Jane is known as 'Auntie Jane' to Belinda's two dogs who also live in the home they share.
Financially, their property is energy efficient, meaning the two women have low bills and there's minimal maintenance required too.
They pay into a housekeeping account and all bills are paid equally.
Golden Girls! Managing Director of mortgage advisor company Alexander Hall, Richard Merret, told MailOnline that friends living together in later life is increasingly common because it offers security and companionship (Pictured: Belinda, left, and Jane on their travels)
Blueprint: The two women bought 'Doug', a motorhome together first...and the arrangement worked so well that during lockdown they discussed more deeply the idea of co-owning a property
She says: 'With things such as ever increasing council tax and energy bills, halving this every month makes a massive difference and shopping and cooking for two is better than for one.'
When Belinda posted about their home on Facebook, it quickly 'blew up', amassing nearly 900 comments, with many saying they'd also thought seriously about buying with friends.
One person wrote: 'This is the best epic retirement post! I love what you've done.'
Another penned: 'Ah, this is amazing - like a childhood dream retiring with your bff in an eco home plus travelling the world.'
One poster said it was a shame society doesn't promote friends living together in later years, saying: 'This is such an interesting and win/win arrangement. It would be great if there was a wider choice of suitable housing for it.'
Another fan of the idea said buying a house with friends was 'a wonderful way to live and not be lonely'.
Managing Director of mortgage advisor company Alexander Hall, Richard Merret, told MailOnline that it's not hard to see why more people are getting on board with the idea of co-owning with friends, calling it a 'modern solution for a changing world'.
He says: 'Buying a home with a friend later in life can be a smart and empowering decision. In cases like this, it's not just about bricks and mortar - it's about financial resilience and shared well-being.
'By pooling resources, buyers can access properties they might not afford alone, while splitting ongoing costs like utilities and maintenance.'
Merret says while co-owning amongst first time buyers has always been popular, those in later life are now more likely to explore the idea too.
Belinda says her daughters are supportive of the inheritance arrangement, saying: 'Lower bills means I can spoil my grandchildren now'
'With careful legal and financial planning, co-ownership in later life can offer security, affordability, and a renewed sense of independence. It's a modern solution for a changing world.'
There was one question in the comments on Belinda's post that kept cropping up, however, and it's perhaps the reason why retiree house-shares aren't more common - what happens to the house if one of them dies?
Will Belinda's two daughters, now with children of their own, inherit their mother's share? The answer, in short, is yes - but not straight away.
Says Belinda: 'Our Deed of Trust specifies our wishes but the remaining owner has a lifetime right of residence.'
We don't have a crystal ball so whether our children or grandchildren benefit, I can't say - but they are all happy with this arrangement...
So, if one of the two women dies, the other has the reassurance of knowing they can stay in the home for the rest of their days.
Belinda didn't blink when someone commented on the Facebook post that her children might have to 'wait 20 years to get any inheritance, if there was anything left by then..?'
She says her children are 'professionals' who've both been 'helped along the way (house deposits, weddings etc)' and 100 per cent support her decision to co-own with a friend.
The 63-year-old explains: 'We don't have a crystal ball so whether our children or grandchildren benefit, I can't say - but they are all happy with this arrangement. Lower bills means I can spoil my grandchildren now.'
And might a man come along and disrupt the friends' living arrangement?
'I am sure that it would and this could never be completely ruled out...either of us could meet Mr Right on our travels!'