joint mortgages
Discussion
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?
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?
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
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
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
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?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
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. Gassing Station | Finance | Top of Page | What's New | My Stuff