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Protecting My Investment
StarsDie
Posts: 13 Forumite
I have my own mortgage and although I love and trust my partner there is always a chance things could go pear shaped and she claim half of my investment. I worked hard on the property before I met her and now have a house worth 140k with only a mortgage of 75k.
My brother is in a similar position now. He has a 40k deposit and is buying his own property and his girlfriend wants involvement on the mortgage with no deposit of her own to contribute. They've argued but she agreed in the end and the mortgage is now his own.
We both need to be prepared for the worst scenario. Of course if we married our partners and had children then we would only expect 50/50 for our family security, but for the sake of a relationship coming to an end it would be a terrible thought to lose half of everything I've worked so hard for.
My question is, if we swap our names on the deeds so he owns my house and I own his house would this secure our investments? If not, are there any other alternatives other than a contract agreement. And are contract agreements really that solid? I've heard they mean nothing in a courtroom dependant on some situations. Please advise.
My brother is in a similar position now. He has a 40k deposit and is buying his own property and his girlfriend wants involvement on the mortgage with no deposit of her own to contribute. They've argued but she agreed in the end and the mortgage is now his own.
We both need to be prepared for the worst scenario. Of course if we married our partners and had children then we would only expect 50/50 for our family security, but for the sake of a relationship coming to an end it would be a terrible thought to lose half of everything I've worked so hard for.
My question is, if we swap our names on the deeds so he owns my house and I own his house would this secure our investments? If not, are there any other alternatives other than a contract agreement. And are contract agreements really that solid? I've heard they mean nothing in a courtroom dependant on some situations. Please advise.
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Comments
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For peace of mind speak to a solicitor. 30 minutes will suffice. Far too complications if you involve your brother as well.0
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