Buying house with Boyfriend but only his name on the mortgage...how can I protect me?

Mojisola

leespot wrote: »

Getting married isn't going to make all that much difference to be honest, still doesn't automatically mean she's entitled to the house.

After five or so years of marriage, it would become an asset of the marriage but a lot could happen before then.

leespot

Mojisola wrote: »

After five or so years of marriage, it would become an asset of the marriage but a lot could happen before then.

Agreed. I don't think there's much can be done to help the OP's situation based on the fact's they've shared with us. All of the benefit of the arrangement at the moment seems to sit with the partner and his children.

unholyangel

gingercordial wrote: »

You're not protected. He could leave you tomorrow, walk out and never call you again, and happily buy his house with the money you gave him as a present.

It'd be no different if you split up tomorrow and expected him to give back to you anything you'd bought him for his birthday, ie he doesn't have to. In fact worse, because he's actually got a legal document from you saying the money's a gift with no obligation to repay.

OP said they didn't sign anything - just that if they "officially" wanted to contribute to the deposit, they'd have to sign a declaration stating it was a gift.

Likely a result of the terms of the mortgage/a measure for the lender to protect their investment - lest the remaining share (should the person paying the deposit successfully argue they're entitled to a share) be inadequate to satisfy their charge.

davidwood123

Personally, I think the OP's boyfriend is crazy causing all trouble for the sake of £5000.

He's the one putting in the vast majority of the money. He's the one with more to lose.

jackieblack

englishrosie wrote: »

I'm not worried about getting the deposit money back, its just that after say 10 years we break up, but i've been helping pay the mortage that I will be entitled to some of the house for my contributions

Absolutely no guarantee of that.

Malthusian

leespot wrote: »

Getting married isn't going to make all that much difference to be honest, still doesn't automatically mean she's entitled to the house.

Other than that it eventually becomes an asset of the marriage as someone else mentioned, marriage also invalidates the boyfriend's previous Will (unless explicitly made in contemplation of the new marriage). If he then died without making another one, the OP as his spouse would be entitled to £250,000 of his assets plus half of the remainder. The boyfriend's child(ren) would get the rest.

cashbackproblems

Well hes putting in far bigger deposit than yours so in his case id make sure you werent entitled to 5050 upon sale to make it fair

Theres little you can do i would be inclined just to pay him rent and assume its not your house and once your meet mortgage criteria can add ur name on property

no1catman

davidwood123 wrote: »

Personally, I think the OP's boyfriend is crazy causing all trouble for the sake of £5000.

He's the one putting in the vast majority of the money. He's the one with more to lose.

Looking at it from his perspective, it may be he's afraid of marriage - or rather the divorce settlement, if it all goes 'pear shaped'!
But they need to find an arrangement that safeguards both their interests.

I go back to a previous comment tha she needs to get independent advice.

jackieblack

Lack of response from the OP would indicate that she's not getting the responses she was hoping for...


A fairly common phenomenon IME

cashbackproblems

jackieblack wrote: »

Lack of response from the OP would indicate that she's not getting the responses she was hoping for...


A fairly common phenomenon IME

Yes a typical money grabber wants full entitlement but putting in a piddly 5k. Guys are getting smart to this now and not marrying unless the female is financially equal as they lose out otherwise in divorce