Help Please

stan780953

Hi

My girlfriend is in the process of trying to get a mortgage and if successfull she wants me to move in. I can't get a mortgage as I have to many debt to sort out but my question is what rights do I have if I move in and pay half the mortgage even though it will be my girlfriends name on the mortgage and she would have paid a big deposit? Any help on this would be great. Thank you.

koexelek

As far as the lender is concerened, you would have no rights at all.
On the other side the coin though, your girlfriend is 100% responsible for the payments, whether you help or not.
To protect your own interests, prehaps you should draw up some sort of agreement as to what would happen if you were to separate ( taking into account you had paid half the mortgage).

Robert_Sterling_3

Paying half the mortgage is a bit like paying rent in these circumstances so I do not think you have a moral right to anything.

stan780953

Thank you for your quick replys. I was thinking if I pay half the mortgage and didn't have any rent agreement then we could maybe get a trust deed? set up to say if we did separate then I would be entitled to the equity in the house!?!

silvercar

So your girlfriend pays the deposit and has responsibility for the mortgage payments, yet you feel entitled to the equity!

What are you contributing? Half the mortgage? Would that be roughly the same as half the rent on a similar property? Are you paying towards the maintenance? Why would you feel entitled to the equity that came from your girlfriends deposit?

stan780953

Hi silvercar

I don't feel I'm entitled to any of the equity which is why I have asked questions to find out a bit more. I would be paying half the mortgage,maintenance and bills which would cost me more than I'm paying now as I rent a friends house and get cheap rent so I 'm just trying to find out as much as I can before I move.

Robert_Sterling_3

At present you are paying less than you might for your accomodation. That does not mean that if you move somewhere else you should still be subsidised at the new abode. So moving in with g/f might mean the total cost for you living there would be higher than staying put. You might think that other factors make that a worthwhile expense.

epsilondraconis

Ask your girlfriend if she feels you are entitled to equity in the property if you pay half of the mortgage and bills.

After asking, if she is still your girlfriend and you are not in casualty, you may want to see a solicitor to get some sort of agreement drawn up.

Good luck - I fear you may need it!