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danielstamp91
Posts: 2 Newbie
Hello everyone,
I am wondering if you can help me with something as I am clearly financially illiterate.
I recently bought a one bedroom maisonette with my partner for £175,500. My partner put up £48,000 of the deposit and I put up £12,500 - this leaves us with a mortgage of £115,000.
In order to pay my partner back I am going to pay for all of our bills (£1000 Council Tax for example) and then minus half of the bill (her share - £500 in this Council Tax example) from all of the money I owe her.
The question I need your help with, however, is how much do I owe her in order to get to a point where it is as though we went 50/50 on our deposit?!
I can't tell if it is £17,750 or £35,500!? Thank you in advance for your help as all of this is making me feel really rather stupid.
I am wondering if you can help me with something as I am clearly financially illiterate.
I recently bought a one bedroom maisonette with my partner for £175,500. My partner put up £48,000 of the deposit and I put up £12,500 - this leaves us with a mortgage of £115,000.
In order to pay my partner back I am going to pay for all of our bills (£1000 Council Tax for example) and then minus half of the bill (her share - £500 in this Council Tax example) from all of the money I owe her.
The question I need your help with, however, is how much do I owe her in order to get to a point where it is as though we went 50/50 on our deposit?!
I can't tell if it is £17,750 or £35,500!? Thank you in advance for your help as all of this is making me feel really rather stupid.
0
Comments
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So your total deposit was £60,500. An equal share would have been £30,250. So it would be £17,750. Hope that helps!:jFinally going to be a homeowner:T0
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I do hope you have put all this writing?I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
I agree with amnblog, would definitely suggest putting it down in writing or drafting a contract!:jFinally going to be a homeowner:T0
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