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Tenants in Common - unequal deposit and mortgage repayments
tit really does not get much simpler than you buy the house 50:50, or in this case 60:40 this is what the OP was proposing.
The fact that one pays all cash the other has to borrow the money is secondary.
Any other way is just complicating the purchase.
if you bought 2 small places that cost the same people would have no problem with the one being mortgaged owning all that property(less the debt) and paying the mortgage but then lose all common sense when that property happens to be 1/2 of a bigger property and then invent convoluted ownership schemes.
both paying cash, or
one paying cash and the other borrowing(say a loan from mum and dad) or
one paying cash and the other borrowing using a secured debt
should result in the same ownership the source of the money should not effect what you get to buy for that money.
Thanks everyone - v useful and has given us a lot to mull over! Really appreciate all your comments and ideas and we'll have to think about what is going to work best for us.
