sharing mortgage with gf?

Ralph201

hello there

i am in a bit of a predicament, i am looking to buy a house with my GF of nearly 3 years, however i will be putting down all of the deposit that i have worked very hard to save and i will be paying the mortgage 910 a month, my GF does not earn a lot of money around 18k and i earn about 28k. It seems fair that the house is in my name as i will be paying the deposit on the house and the mortgage and then we split the bills 50/50 . however my GF is worried that if we split up...(hopefully not) she will have spent time and money putting into making the house a home ie tv, sofa, decorating etc etc and receive nothing for it if we were to break up....i can see what she is saying to a extent, i said if she starts earning more money and starts to contribute to the mortgage as now she can only afford to pay half of bills i said a deed or contract can be written up that says basically she gets what money she pays in a percentage of the value of the house according to the payments she has made.

am i right in think thinking this can be done or as it will be a joint mortgage application will she be able to receive some percentage of the house if we were to split even tho she has not contributed to the deposit or mortgage? your thoughts and help would be greatly appreciated?

many thanks

CLAPTON

you can have a contract drawn up but make sure it is written down very clearly and you understand what you would need to pay her and how you would raise the money

ethank

If she is not on the mortgage or deeds then she does not own the property. If you get a mortgage on your own, you will need to declare that she will be living with you, and the lender will ask her to sign to say she has 'no interest' in the property.

The lender will not be happy to lend unless they do that, as it could potentially cause an issue with repossessing the home, if they ever had to do that.

If you did what you are suggesting in the future - she could not be put on the deeds to the house unless she was on the mortgage also.

webinteractions

How much do you think she'll spend on 'making it a home'? Will you be going splits on the tv etc? She would have to buy these things no matter where she is living anyway. If you two split just give her back the assets or buy them from her. It's nothing compared to what you have sacrificed for the deposit and what you will continue to put into the house each month.

So If I were you I would not allow her anywhere near the deeds!!

comeandgo

She would have to pay for somewhere to stay regardless so if she pays you rent then it may be she is getting a good place to stay cheaply - she would make anywhere a home too - if you split up she can take her pictures and cushions with her. My advise is keep this house to yourself. Once she has more money and can put something into it then I'd suggest you look at joint ownership.

Kynthia

If she isn't putting anything into the deposit and isn't paying any of the mortgage repayments then she isn't buying a property at all. So she is going to be living with you and paying less than if she rented somewhere, which is fine if she wasn't also thinking she would be entitled to something more if you split. If she's paid for items in the home then she could take them with her. Everyone has to pay their way in this life, and while I'm all for women financially protecting themselves in relationships I want it to be fair on both sides. You need to have an honest conversation about finances, be clear on what is expected and the exit plan should you split.