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  • FIRST POST
    • Filed
    • By Filed 10th Oct 17, 2:33 PM
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    Filed
    Buying home - Protecting my Deposit contribution
    • #1
    • 10th Oct 17, 2:33 PM
    Buying home - Protecting my Deposit contribution 10th Oct 17 at 2:33 PM
    Hi all,

    Quick question, myself and the girlfriend are looking to buy a house jointly. We want the house to be owned 50/50 but I have contributed £20k towards the £27k deposit, with the other £7k coming from our combined savings.

    So for example if the property was to increase in value then we would both benefit equally from the increased value, but £20,000 is guaranteed to James no matter the house value due to the initial deposit difference.

    The solicitor has offered to write up a deed of trust for £240 however this seems a little excessive considering the overall cost of moving.

    Any advice would be much appreciated.

    Cheers
    James
Page 1
    • Doozergirl
    • By Doozergirl 10th Oct 17, 2:40 PM
    • 24,085 Posts
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    Doozergirl
    • #2
    • 10th Oct 17, 2:40 PM
    • #2
    • 10th Oct 17, 2:40 PM
    You won't think it's that much if you do split up. Do it once, do it right. That's how much solicitors cost.

    Professionally considered and witnessed, there's no doubt then what was intended.
    Everything that is supposed to be in heaven is already here on earth.
    • lincroft1710
    • By lincroft1710 10th Oct 17, 2:50 PM
    • 10,052 Posts
    • 8,122 Thanks
    lincroft1710
    • #3
    • 10th Oct 17, 2:50 PM
    • #3
    • 10th Oct 17, 2:50 PM
    If there is no pre-purchase agreement and things do go wrong, then subsequent solicitors' bills will be a lot higher than £240!
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