Relationship breakdown - dividing savings

21yrold

Hi all,

1st off this is not for me its for my friend, I'm very happy in my relationship

I know its difficult to know all the facts but this is the best i could do with him and would be helpful to know where he stands.

I'm sure this is a common issue but then again maybe its not i dont know!

Me and my Fianc!e moved in together 2 years ago, She borrowed 5k off of her dad for a deposit on the mortgage.

The mortgage is in her name only, we have a joint back account and she has her own bank account!

The deal that we said when we moved in was that each month i pay her dad back £500 out of our joint account where my wages are put into and she saves £500 in her bank account for our savings!

Now we soon to be breaking up, But as the savings are in her name and I have been paying her dad back out of the joint account but with my wages what am I entitled too (if anything)? I have payed back the full £5k as of this month. (i think the description of the bank transfer to her dad was called money owed)

We used the joint account for disposable money each month and her account for the bills etc! But the savings are in her solo bank account?

I don't want anything out of the mortgage as that's hers i just want to know where i stand legally with regards to the savings that we have both saved up (me paying her dad back 5K and her saving 5K for us)

If you can give me any advice on this matter then it would be a great help

srcandas

In my experience your friend better forget the legal route as a pursuance method. It may be of value to leave it as an unsaid option only used as a final threat but is very unlikely to bear fruit.

I think his best option is to document everything fairly, and offer a generous settlement to his partner, and hope commonsense prevails. If that fails threaten legal action leaving his offer on the table for say a week. And if nothing happens walk away lesson learnt.

Life is too short and love is a cruel master

ps: She can claim that her dad facilitating the purchase had great value and that his £500 is in reality rent. And she can back that up with evidence as in the bank account set up.

As you say difficult without all the details but these things don't normally go well for the love sick gullible.

innovate

Not sure the maths stack up fully - £500 a month for 2 years would be £12,000? Bit more than the £5K the dad was owed?

Leaving that aside, though - - I can't see a big case here, paying £500 a month for somewhere to live isn't extortionate. He can of course argue it should have been share, but he then would have to take into account that she paid the bills - easily £500 a month for 2 people, if not more. Overall, it probably swings in roundabouts.

He definitely has no claim on his partner's savings.

21yrold

No sorry he paid it over 10 months not the 2 years they have lived in the property.

He paid the £500 plus half the mortgage and bills?

The £500 was just an extra payment for him and the £500 from her was extra savings so they always paid the same of every bill if that makes sense?

I agree he shouldnt have just left it all to her but I'm hoping he will learn his lesson from it

atush

Is his name on the house, if not the mtg?

What will the equity be in the house?

IronWolf

Afraid he has no legal leg to stand on. Courts wont go through bank histories and decipher who's was what unless they were married. You should always keep your finances separate and in the correct names until married imo.

He'll have to appeal to the good nature of her or her father to get what he's owed.

21yrold

He is not interested in the mortgage etc as thats her's.

Ok well thanks for the advice and I'm sure he will learn, she is a nice girl and the family are well off so you never know how it will play out when they do split up but atleast we know now

Thanks for your help guys, helpful as ever!