Worried Partner Will Leave. How to Protect Finances?

quatrofromageo

Hi everyone, I'm seriously concerned that my fianc!e is on the verge of leaving.

I don't want to go into the details of how she's treating me, but I've got a rotten feeling that all is not well.

Unfortunately, she's very good with financial things, while I am not. However, I sold my flat to buy our house together. Basically, I'm scared that she's going to take me to the cleaners and ruin me. Is there anything I can do or should prepare in order to protect myself from this happening? Especially when the deposit for the mortgage was from the sale of my flat?

I'd appreciate whatever help you can offer me.

This is only a precaution, but I felt I should be better safe than sorry.

Guest101

Are you joint tenants or tenants in common?

quatrofromageo

I have no idea.
We're not renting.
We got a joint mortgage (I think?) and I used the sale of my flat as our deposit.

Mojisola

quatrofromageo wrote: »

I have no idea.
We're not renting.
We got a joint mortgage (I think?) and I used the sale of my flat as our deposit.

There are two ways of owning a house - as Guest101 said - either you are 'joint tenants' where you both own all the house or 'tenants in common' where you own specific percentages of the house.

The TIC ownership is often done to protect a larger investment that one owner has put into the property.

This should all have been explained when you bought the house.

onomatopoeia99

Mojisola wrote: »

This should all have been explained when you bought the house.

Indeed, the OP's solicitor should have sat them down and explained all this before they signed the contract. I purchased the house with my ex as tennants in common with her having a much larger share as she was putting in the whole deposit - I was paying the whole of the mortgage and the intention was to change to 50/50 or go to joint when the mortgage was paid off, but she scarpered long before that happened. We had a long chat with the soliciotr about it going through the options.

bagpussbear

The first thing you should do is to dig out your mortgage papers if you know where they are in the house? If you are not sure you'd understand them, do you have a family member or good friend that is good with this sort of thing to go through them with you?

Have you ever seen a mortgage statement, or anything from the mortgage company come through the door? if so, does it have her name, or both your names on it? That might give a clue.

enthusiasticsaver

Do you have any evidence of the flat being used as a deposit - ie letters from estate agents, completion statement from solicitor? As you are engaged rather than married there are no fixed rules here unless as someone else has mentioned you purchased your house as tenants in common and have it written down somewhere in an agreement that you put in the deposit. Technically though if you have no proof then if the house was sold and mortgage repaid then the equity would be split in half.