I bought a house with my best friend after a messy divorce - but it posed an awkward inheritance question
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!'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Independent
17 minutes ago
- The Independent
Business news live: FTSE 100 to open near record high and latest bitcoin price after fall
The FTSE 100 rose to new highs once again last week, tipping the scales well above 9,100 points after a particularly strong day on Thursday which saw the likes of BT Group rise ten per cent. The British companies index is up more than 11 per cent this year, outpacing the key US benchmarks. Meanwhile, key upcoming UK economy data this week includes mortgage approvals and the Nationwide House Price Index. Additionally, there is likely to be more news emerging on how the government may tackle pension reform, amid debate over what age the state pension should be and whether the tax relief rate on pension contributions may be altered. In other markets, bitcoin fell towards the end of last week, from the highs above $123,000 down to around $115,000, with gold also retreating as investors took a risk-on approach once more.
BreakingNews.ie
18 minutes ago
- BreakingNews.ie
Starmer to raise Gaza ceasefire and UK steel tariffs in Trump meeting
Keir Starmer is expected to raise the prospect of reviving ceasefire talks between Israel and Hamas and the future of tariffs on British steel as he meets Donald Trump in Scotland. The British Prime Minister will travel to Ayrshire, where the US president is staying at his Turnberry golf resort, for wide-ranging discussions on trade and the Middle East as international alarm grows over starvation in Gaza. Advertisement The two leaders have built a rapport on the world stage despite their differing political backgrounds, with Mr Trump praising Starmer for doing a 'very good job' in office ahead of their talks on Monday. But humanitarian conditions in Gaza and uncertainty over US import taxes on key British goods in America threaten to complicate their bilateral meeting. The US president has been playing golf at his Turnberry resort in Scotland (PA) Peace talks in the Middle East came to a standstill last week after Washington and Israel recalled negotiating teams from Qatar, with White House special envoy Steve Witkoff blaming Hamas for a 'lack of desire' to reach an agreement. Since then, Israel has promised military pauses in three populated areas of Gaza to allow designated UN convoys of aid to reach desperate Palestinians. Advertisement But the UK, which is joining efforts to airdrop aid into the enclave and evacuate children in need of medical assistance, has said that access to supplies must be 'urgently' widened. In his talks with Mr Trump, Starmer will 'welcome the President's administration working with partners in Qatar and Egypt to bring about a ceasefire in Gaza', Number 10 said. 'He will discuss further with him what more can be done to secure the ceasefire urgently, bring an end to the unspeakable suffering and starvation in Gaza and free the hostages who have been held so cruelly for so long.' The leaders will also talk 'one-on-one about advancing implementation of the landmark Economic Prosperity Deal so that Brits and Americans can benefit from boosted trade links between their two countries', it said. Advertisement The agreement signed at the G7 summit last month slashed trade barriers on goods from both countries. But tariffs for the steel industry, which is of key economic importance to the UK, were left to stand at 25 per cent rather than falling to zero as originally agreed. Concerns had previously been raised that the sector could face a levy of up to 50 per cent – the US's global rate – unless a further agreement was made by July 9th, when Mr Trump said he would start implementing import taxes on America's trading partners. But that deadline has been and gone without any concrete update on the status of UK steel. Advertisement Downing Street said that both sides are working 'at pace' to 'go further to deliver benefits to working people on both sides of the Atlantic' and to give UK industry 'the security it needs'. The two leaders are also expected to discuss the war in Ukraine, which Number 10 said would include 'applying pressure' on Vladimir Putin to end the invasion, before travelling on together for a private engagement in Aberdeen. It comes after Mr Trump announced he had agreed 'the biggest deal ever made' between the US and the European Union after meeting Ursula von der Leyen for high-stakes talks at Turnberry on Sunday. After a day playing golf, the US leader met the President of the EU Commission to hammer out the broad terms of an agreement that will subject the bloc to 15 per cent tariffs on most of its goods entering America. Advertisement This is lower than a 30 per cent levy previously threatened by the US president. The agreement will include 'zero for zero' tariffs on a number of products including aircraft, some agricultural goods and certain chemicals, as well as EU purchases of US energy worth 750 billion dollars (€638 billion) over three years. Speaking to journalists on Sunday about his meeting with, Mr Trump said: 'We're meeting about a lot of things. We have our trade deal and it's been a great deal. 'It's good for us. It's good for them and good for us. I think the UK is very happy, they've been trying for 12 years to get it and they got it, and it's a great trade deal for both, works out very well. 'We'll be discussing that. I think we're going to be discussing a lot about Israel. 'They're very much involved in terms of wanting something to happen. 'He's doing a very good job, by the way.' Mr Trump's private trip to the UK comes ahead of a planned state visit in September.
Reuters
18 minutes ago
- Reuters
Fed rates are going nowhere fast
LONDON, July 28 (Reuters) - Incoming U.S. inflation signals are offering the Federal Reserve little or no justification to resume interest rate cuts, and it's hard to see that changing before September. Following an unscheduled visit to the Fed last week, President Donald Trump said he thinks the Fed may be ready to lower rates again. To be sure, at least two of his appointees to the Fed board - Christopher Waller and Michelle Bowman - have indicated they might vote for a cut as soon as this week. But they may be alone. Markets certainly remain unconvinced. Futures pricing shows virtually zero chance of a move on Wednesday and only a 70% chance of a cut at the following meeting in September. Markets now even doubt we'll see two rate cuts this year - the median of Fed policymakers' forecasts published just last month. While some clarity on the uncertain trade picture should emerge from this Friday's deadline, the effective overall import tariff rate is still set to be almost 20% higher than at the start of the year. And the impact from that may take months yet to filter through. But there are enough other signals that higher import levies and a weaker dollar are already irking the U.S. price picture, at least enough to keep the Fed wary. As it stands, inflation remains well above the 2% target, and long-term market inflation expectations, now the highest of any G7 country, are above target too and creeping up. The Fed's favored inflation gauge, from the personal consumption expenditures basket, is due for release on Friday, and the annual core rate excluding food and energy is expected to be 2.7% - the same as last month. Consumer price inflation data for the month that has already been released shows pockets of price pressure in key areas affected by the limited tariffs enacted so far. Producer price data was more subdued, but that series doesn't include imported goods. Moreover, manufacturing firms last week continued to show outsized gains in input prices in July. S&P Global's monthly survey of purchasing managers registered an input price reading of 64.6, still far above the 50 threshold between expansion and contraction. Unlike the PPI, that captures imported inputs. By contrast, European manufacturers registered an equivalent input price reading of 49.9. Tariff-related readouts from the roughly one-fifth of S&P 500 companies that have reported second-quarter updates have been noisier. But economists warn that two aspects of the earnings season could potentially be disguising the tariff impact. The first is significant front-loading of imports in the first quarter to beat the tariffs, the enormous scale of which led to a small GDP contraction in the first three months of 2025. As that tariff-free inventory is run down, costs should rise as tariffs begin to hit. The hiatus may have allowed many firms to keep prices steady or avoid taking significant margin hits through the second quarter. The second aspect economists warn about is the degree to which major companies may want to avoid any public statements on negative tariff hits or any pass-through to consumers due to fears of political backlash. All of which leaves a foggy inflation picture going forward and one unlikely to be clarified much by September. To be sure, the Fed has a dual mandate, which includes both keeping prices stable and maintaining maximum employment, and one argument, from Waller at least, is that the labor market is showing signs of softening. And yet employment reports out this week are unlikely to offer much support on that front either, with recent weekly jobless claims data painting a robust picture. While monthly payroll growth is expected to slow in July, the unemployment rate is set to remain near historic lows at about 4.2%, with annual wage growth one percentage point above core PCE inflation. What's more, second-quarter U.S. GDP updates this week are also expected to confirm a brisk bounce-back in overall economic growth to 2.4% after the trade-distorted first-quarter hiccup. Lazard chief market strategist Ron Temple reckons the Fed won't cut at all this year, just like seven Fed policymakers indicated last month. "My logic is that inflation is likely to re-accelerate meaningfully by year-end due to tariffs," he wrote on Friday. "Thereafter, stricter immigration enforcement is likely to create another inflationary force," he said, adding that rising deportations of workers could push up wage inflation, keep unemployment stable, and cause GDP to slow. "That is not a scenario that argues for Fed rate cuts." If the Fed does signal it's ready to ease again, it may struggle to make a cogent case for why it is doing so. The opinions expressed here are those of the author, a columnist for Reuters -- Enjoying this column? Check out Reuters Open Interest (ROI), your essential new source for global financial commentary. Follow ROI on LinkedIn. Plus, sign up for my weekday newsletter, Morning Bid U.S.
