joint mortgages
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Discussion

pistonmember

Original Poster:

83 posts

151 months

Tuesday 27th May 2014
quotequote all
Im asking my girlfriend to move in soon.

I have 12,000 pound in the house already and she wont be bringing any cash down as she doesent make as much as me, she will coming onto the mortgage (after a trial period) and paying half of it per month.

Now if we were to split up, would she be entitled to half the house or just literally what she has put in? Like how does it work if it goes from a single to joint mortgage?

pistonmember

Original Poster:

83 posts

151 months

Thursday 29th May 2014
quotequote all
Anyone

bogie

17,100 posts

302 months

Thursday 29th May 2014
quotequote all
right now, if you split it will be a case of proving everything and potential hassle

To do the job properly, when she "comes onto the mortgage" you will need your solicitor to amend the agreement, its easy enough to have a clause that says you get the minimum £12K back (whatever equity you have in it now) and then split the rest of any future equity

I did this with my girlfriend when we bought a house together years ago....we have both been stung in the past with previous relationships going wrong. This time around we were putting in different amounts deposit that we both want back should we split ...neither of us want to lose a lifetimes of equity from previous properties, should things go wrong in future...

We are still together 15 years later and each paying 1/2 of everything household related ...keeps it simple wink

theaxe

3,571 posts

252 months

Thursday 29th May 2014
quotequote all
It's a 'tenants in common' agreement you need.

pistonmember

Original Poster:

83 posts

151 months

Thursday 29th May 2014
quotequote all
bogie said:
right now, if you split it will be a case of proving everything and potential hassle

To do the job properly, when she "comes onto the mortgage" you will need your solicitor to amend the agreement, its easy enough to have a clause that says you get the minimum £12K back (whatever equity you have in it now) and then split the rest of any future equity

I did this with my girlfriend when we bought a house together years ago....we have both been stung in the past with previous relationships going wrong. This time around we were putting in different amounts deposit that we both want back should we split ...neither of us want to lose a lifetimes of equity from previous properties, should things go wrong in future...

We are still together 15 years later and each paying 1/2 of everything household related ...keeps it simple wink
Yes this is what i need, my girlfriend seems to be a bit opposed to it saying it doesent feel like a partnership, how best can i word this idea to her?

Sarnie

8,373 posts

239 months

Thursday 29th May 2014
quotequote all
pistonmember said:
Yes this is what i need, my girlfriend seems to be a bit opposed to it saying it doesent feel like a partnership, how best can i word this idea to her?
Tell her to find £12k and then she can have a fully fledged partnership? wink

pistonmember

Original Poster:

83 posts

151 months

Thursday 29th May 2014
quotequote all
Sarnie said:
Tell her to find £12k and then she can have a fully fledged partnership? wink
Lol, i think maybe i didnt word it too well.

benters

1,459 posts

164 months

Thursday 29th May 2014
quotequote all
get your and your OH protected via a deed of trust.

pistonmember

Original Poster:

83 posts

151 months

Thursday 29th May 2014
quotequote all
benters said:
get your and your OH protected via a deed of trust.
Would we still have to do tenants in common with this also?

benters

1,459 posts

164 months

Thursday 29th May 2014
quotequote all
pistonmember said:
Would we still have to do tenants in common with this also?
Im sure it can all be rolled into one thing, but you need a solicitor to advise you on this, which I am not. That said, to protect both of you something needs to be formally agreed which a deed of trust will do.