Declaration of Trust

steeeb

We're currently living together in rented accomodation - but she is having problems with her job which is the reason why she will be leaving once the house is completed.

Moving into a house we/I'll own is the "next step" but not in a traditional sense. The main thing, as mentioned before is having our own house and also actually saving money and that money being put to good. For me it makes great economic sense over renting.

The 1% is a nominal amount and I don't mind it if it gives her piece of mind. At the end of the day most of my investment in protected in the 99%.

But as you guys say - if they think they're going to try and bully me in to doing something else then they have another thing coming. I think it's more a lack of understanding on their part rather than any "moneygrabbingness".

Her being on the mortgage at the moment allows us to buy earlier. A long story short - My dividends can't be taken into account until December, where-as with her on the mortgage it doesn't matter much. This isn't the reason why she is on it though, I'd happily wait. But I do think it is "right" for us both to be on the mortgage if she feels like she needs to be - but from that I need to protect myself with the 99% declaration.

propertyman

Look I'll be honest we can't speculate to her motives or innate fear of being exploited.

What it is a sign of is that you both need time discussing your relationship- as we do many things that are traditionally things that come after commitment and understanding rather than before, hence the current pickle.

I'd start with acknowledging that you want to live together but are "we" sure if this is "til Death"- that not about liking or loving but how "we" will work together, kids dogs and nose picking habits

The plan is to buy a house and while hoping for the best, planning for the worst and trying to ensure it's not just "my house that we live in".

Its "Where are we going and how do we get there etc...."

PS Mrs Propertyman got home and brought me 2 doughnuts ( that never happens) so I must have said something right

sniggings

steeeb wrote: »

. I think it's more a lack of understanding on their part rather than any "moneygrabbingness".

Whats to understand! they do understand she is not putting a penny into this, it's not hard to understand that, they get it! unless they are not too bright (not meaning to be rude) but if it looks like a duck and quacks like a duck, it's a duck! First she/they want her name on the mortgage, now they want more than the 99/1% deal. Sorry if I'm missing something here but this says more to me than her just wanting to feel the house is part hers, which is daft as it's not so why should she feel it's hers when she knows it's not! If she feels this way now, how strong will this feeling be in a few years!

If this was the other way around and she was putting in all the money, would you be asking for more than what she has been offered! and feeling hard done by if you didn't get it?

I hear you when you say they will not get you to move on this but what do you think will happen if you were to leave her, or she were to find someone else? 5 years from now and still not married, is she really going to just walk away from this house that from the start she "feels is hers" , I doubt it very much, she is going to feel she has given 5 years to the relationship so wants something out of it, and that is where the courts come in and she claims the contract at the start was unfair and makes a claim for half.

If she wants so badly to feel the property is hers, let her pick the colour of the paint!

rpc

propertyman wrote: »

What it is a sign of is that you both need time discussing your relationship

without her mother present!!!

propertyman

Checked the news this morning. No story about

"Man admitted to hospital missing his trouser vegetables and "1%" tattooed on forehead":)

steeeb

propertyman wrote: »

Checked the news this morning. No story about

"Man admitted to hospital missing his trouser vegetables and "1%" tattooed on forehead":)

Nice

Her mum didn't bring it up (she was also coming round for tea), and my girlfriend sort of accepts the fact now.

We're about to get the mortgage offer, but my girlfriends job is getting more and more insecure - I don't know whether to risk carrying on (If she loses her job before completion, do I need to inform the bank), either try to purchase the property myself, or simply not buy the house any more.

Decisions, decisions.

Mojisola

Does she realise that she will be equally responsible for repaying the mortgage if her name is on the paperwork? If you couldn't pay, they would chase her for the full mortgage payment.

propertyman

Mojisola wrote: »

Does she realise that she will be equally responsible for repaying the mortgage if her name is on the paperwork? If you couldn't pay, they would chase her for the full mortgage payment.

I think you need to ask your solicitor- there are work arounds- if you intend that she has a share, but no liaiblity for default.

And I mean ask today

yorkshire_terrier_owner

How you proceed here is really your decision - YOU have to do what feels right for YOU....... all I can do is to post my property/boyfriend past as a warning.....

In 2002 I bought a property with my ex - he put in a larger % of the deposit and mortgage/bills were split 50/50. We made an agreement (but not a legally binding agreement) that should we split the house would be sold, we would each take out what we had put in and then the remaining equity would be split equally.

12 months later things were not working out and we split. I moved out and back in with my parents as things were not amicable. It took 12 months of fighting it out through solicitors and he denied the original agreement. He basically offered me some stupid amounts of money as he wanted to buy me out of the property but couldn't afford to get a mortgage that would cover what I was entitled to.

Eventually I settled for a lesser amount than I was entitled to (less than the amount of deposit I had originally put in) just to get shot of him as my only other option was to take him to court to force a sale which would have been costly and even more time consuming. It gave me enough (just about) to put down a deposit on a tiny house of my own.

Fast forward 10 years and I am now in a financial position to be able to move to a larger house. My new BF was desperate to move out of where he was so we agreed that when I moved, he would move in with me. The deposit for the new house was coming entirely from equity in MY house and MY savings. I was clear on the fact that the house would be in my sole name only as all the money for it was coming from me. I said that I would only want a contribution from him towards food and I would be paying all of the mortgage and bills. He agreed.

A couple of months down the line he started putting pressure on me to put his name on the new house. Following on from my previous encounter with owning a property with a BF, I said no. I said that if it worked out living together in the new house, I would look to rent that out in the future (keeping it in my sole name) and buy a house together with him. He agreed.

Another couple of weeks pass and he decides that no, he does want to buy this house together. He has no savings to put into it and earns less than me so the split on the mortgage and bills would not be equal, but he wanted an equal share in the property.

I politely showed him the door and am now proceeding with selling my house and moving on my own (well, not quite, with my 5 dogs!!)

My reasoning was that if he genuinely loved me and wanted to live with me he would have respected my right to protect my assets which I have worked hard for.