Advice re buying house with partner

Annisele

cashbackproblems wrote: »

how does the % work if there is unequal deposit but equal mortgage payments?

So for a 100k house, i put in 50k deposit, each pay 50% of mortgage. Divorce and sell for 200k, how would you set that percentage split?

I know this isn't very helpful, but it works the way you and your partner agree it works.

[STRIKE]In that situation, I think I'd say that I was covering 75% of the house (my original £50k deposit, and then half the rest), and my partner was covering 25%. So I'd use the first chunk of the £200k to pay off the mortgage lender, and then I'd want to keep 75% of whatever was left after that. But there are plenty of other reasonable ways to do it.[/STRIKE]

Edit - being brainless today. Don't do it like that; see the next post!

getmore4less

Annisele wrote: »

I know this isn't very helpful, but it works the way you and your partner agree it works.

In that situation, I think I'd say that I was covering 75% of the house (my original £50k deposit, and then half the rest), and my partner was covering 25%. So I'd use the first chunk of the £200k to pay off the mortgage lender, and then I'd want to keep 75% of whatever was left after that. But there are plenty of other reasonable ways to do it.

that's wrong if you put down 50% in cash and split the other 50% with a mortgage 50:50

you get 50% back and 50% share the rest of the equity after the mortgage is taken of just that bit.

with your method if you bought and sold same day your £50k becomes £37500 overnight

..........
people that use the get you money back method need to realise what they are doing is giving the other person a interest free loan for 1/2 the money.