We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Cohabitation Agreement?
remosquito
Posts: 30 Forumite
Been having a search around but can't really find exactly what info I'm looking for.
The scenario is, I am looking to buy a house together with my fiancee. The deposit will be provided 100% by me.
Also, we want to split mortgage payments unequally, as my earnings are higher, so probably 2/3 to 1/3. Most examples seem to split 50/50 so this is the part I'm struggling to get my head round. Actually it may be more accurate to say we want to pay in as much as we each can (by overpaying) so the base split may be 2/3 to 1/3 but the actual amounts could be variable.
We are not planning to get married for another 2 years or so, at which point things can all change again, so we just want something in place to cover that time.
We have no children, are both in full time employment, and contribute fairly evenly to bills and running costs.
How can we split ownership fairly... can it be variable based on how much we have contributed at any one time?
The scenario is, I am looking to buy a house together with my fiancee. The deposit will be provided 100% by me.
Also, we want to split mortgage payments unequally, as my earnings are higher, so probably 2/3 to 1/3. Most examples seem to split 50/50 so this is the part I'm struggling to get my head round. Actually it may be more accurate to say we want to pay in as much as we each can (by overpaying) so the base split may be 2/3 to 1/3 but the actual amounts could be variable.
We are not planning to get married for another 2 years or so, at which point things can all change again, so we just want something in place to cover that time.
We have no children, are both in full time employment, and contribute fairly evenly to bills and running costs.
How can we split ownership fairly... can it be variable based on how much we have contributed at any one time?
0
Comments
-
Get married first, then buy a house - you know it makes sense...."You were only supposed to blow the bl**dy doors off!!"0
-
You could get a solicitor to draw up a agreement where if things went wrong, your deposit would remain your deposit in the event of having to selll the house or buy one another out.
Then if you are getting married, you might as well do fifty fity ownership. Changing the ownership pecentages a few times before you get married is going to be a right PITANon me fac calcitrare tuum culi0 -
Yes, you could get an agreement drawn up which made clear that you would own in proportion to your contributions. You would, of course, then need to ensure that you keep clear records, it would probably be sensible to agree to review the agreement and record the contributions you've each made on a regular basis.All posts are my personal opinion, not formal advice Always get proper, professional advice (particularly about anything legal!)0
-
Why not just bin her off now and save yourself the hassle.0
-
Assuming the property increases in value, your deposit will be earning £xx and her deposit which is zero will be earning zero..................
....I'm smiling because I have no idea what's going on ...:)0 -
easiest way to do it is if you split up - amount of deposit is yours
2/3 of remainder of equity is yours 1/3 is hers. However if you have negative equity - 2/3 of the debt will be yours - 1/3 hers0 -
Is there a 'law' board where I can post q's like this on? Cant see it on the site.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.5K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.1K Work, Benefits & Business
- 600.7K Mortgages, Homes & Bills
- 177.5K Life & Family
- 258.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards