Arguments caused by Declaration of Trust when buying a house

BitterAndTwisted

If you've already exchanged, yes you'll lose the entire deposit.

In the grand scheme of things this could be a small price to pay for a lucky escape.

I don't want to be mean or a Cassandra but if she's being like this now, imagine the heartache if/when you split and she won't sign the papers for you to sell or remortgage in your own name.

BitterAndTwisted

"If she pays any costs or rent she would like to have a share in return".

She would have anyway. You can't accept "rent" or anything else which could be construed later as rent without risking the other person having a valid claim.

Ulfar

It may be a case of complete and then re-sell, you might loose less than your deposit this way.

The fact she has left this until right before completion makes the situation worse, assuming you have exchanged.

Kynthia

Make an urgent appointment or phone call with your solicitor and find out what will happen if you don't complete or don't sign the declaration of trust. Also discuss with the solicitor and mortgage broker whether it's possible to change to buying the property on your own, although I would imagine it's very difficult after exchanging.

00ec25

isn't it "fun" the way responses on here favour the person with 70% interest yet when what could easily be his girlfriend asks exactly the same question but from her 30% perspective, the respondents favour how unfair he is being to her.
So is it gender bias or just pure irrationality

https://forums.moneysavingexpert.com/discussion/4979892
"I am buying a house with my boyfriend (first time) - tenants in common unequal shares 70/30. My boyfriend is giving all the deposit therefore he will have more in equity than me in the house.....He wants me to sign the declaration of trust before doing the completion but I want to make sure that what he wants, is fair for both of us."

Sparx

00ec25 wrote: »

isn't it "fun" the way responses on here favour the person with 70% interest yet when what could easily be his girlfriend asks exactly the same question but from her 30% perspective, the respondents favour how unfair he is being to her.
So is it gender bias or just pure irrationality

https://forums.moneysavingexpert.com/discussion/4979892
"I am buying a house with my boyfriend (first time) - tenants in common unequal shares 70/30. My boyfriend is giving all the deposit therefore he will have more in equity than me in the house.....He wants me to sign the declaration of trust before doing the completion but I want to make sure that what he wants, is fair for both of us."

I don't really see any posts where anyone majorly favours the OP with 30%..

That thread seems quite rational really.

'Tis funny though that thread could well be this OP's missus.

Pixie5740

00ec25 wrote: »

isn't it "fun" the way responses on here favour the person with 70% interest yet when what could easily be his girlfriend asks exactly the same question but from her 30% perspective, the respondents favour how unfair he is being to her.
So is it gender bias or just pure irrationality

https://forums.moneysavingexpert.com/discussion/4979892
"I am buying a house with my boyfriend (first time) - tenants in common unequal shares 70/30. My boyfriend is giving all the deposit therefore he will have more in equity than me in the house.....He wants me to sign the declaration of trust before doing the completion but I want to make sure that what he wants, is fair for both of us."

I don't think her BF is being reasonable nor do I think the OP's GF is being reasonable. I think if one party contributes all the deposit and the mortgage repayments are split 50/50 then the SDLT and solicitor's fees should also be 50/50. If/when the property is sold the person who put in X% of deposit should get X% of the proceeds and then the rest of the proceeds split 50/50.

How the other poster's BF has come to the conclusion that a 70/30 split is fair when she has been paying all the fees and they will both split the mortgage repayments equally I don't know.

Ulfar

00ec25 wrote: »

isn't it "fun" the way responses on here favour the person with 70% interest yet when what could easily be his girlfriend asks exactly the same question but from her 30% perspective, the respondents favour how unfair he is being to her.
So is it gender bias or just pure irrationality

https://forums.moneysavingexpert.com/discussion/4979892
"I am buying a house with my boyfriend (first time) - tenants in common unequal shares 70/30. My boyfriend is giving all the deposit therefore he will have more in equity than me in the house.....He wants me to sign the declaration of trust before doing the completion but I want to make sure that what he wants, is fair for both of us."

The response if put the other way is, yes he is being fair. For the other thread my response would be the same. If the relationship is rocky then I wouldn't entertain entering such a long term commitment.

In this case though the situation is different, ideally this should have been sorted before exchange.

Kynthia

00ec25 wrote: »

isn't it "fun" the way responses on here favour the person with 70% interest yet when what could easily be his girlfriend asks exactly the same question but from her 30% perspective, the respondents favour how unfair he is being to her.
So is it gender bias or just pure irrationality

https://forums.moneysavingexpert.com/discussion/4979892
"I am buying a house with my boyfriend (first time) - tenants in common unequal shares 70/30. My boyfriend is giving all the deposit therefore he will have more in equity than me in the house.....He wants me to sign the declaration of trust before doing the completion but I want to make sure that what he wants, is fair for both of us."

In the other thread the OP was going to be paying 50% of the mortgage when owning only 30% of the property. So a fairly similar situation reversed, but with slight differences, so I do know what you mean as I'm not sure whether the girlfriend in this thread is being completely unreasonable. What makes it gender bias as posters seem to be on the side of whoever posts, whether the male side or the female? Although this thread does seem to include more derogatory remarks against the girlfriend and calls to split up than the other thread has against the boyfriend.

If I understand correctly the OP is going to get back the first 35% of any equity before the rest is split, which essentially means he will own 67.5% of the property but wants his girlfriend to pay 50% of the stamp duty, mortgage repayments and value adding works to the property. If the trust deed just said he'd get his deposit back and then equity was split then that would be different. However I'm not 100% sure my interpretation was correct so my post above focused on the fact they were not in agreement so close to completion and to get advice about what to do.

skint_chick

Does she definitely have her share of the stamp duty and costs? Everyone seems to be overlooking that you said she only just started working and is struggling to cover her share of the mortgage and she needs to come up with over £12,000 for her share of the costs - where is this money coming from? If she doesn't have it then no wonder she is getting stressed out and you're fighting over it.

If you're going to buy a house together then she needs to be honest and explain if she doesn't have the money for a 50% share of costs. If she needs you to pay £150 extra a month for the bills etc then maybe a lesser share of the mortgage would be more sensible - you can vary the trust deed at a later stage - maybe she goes 30% 40% etc. It doesn't make it any less her home