Deeds

Jonjones1

I am in the process of buying a new property for myself and my partner of 8 years. I will be paying the deposit and the mortgage will be in my name only as my partner has bad credit, Although the mortgage repayments will be equal and in the future once their score improves they can be added to this, if we remortgage I believe.

My partner (Who currently rents) feels that there is no security in this especially as they will be contributing financially to the household equal amounts.

Could I possibly add his name to the deeds without his name being on the mortgage? It all seems rather messy and any advice would be appreciated.

BrassicWoman

you pay all the mortgage
you both pay half the bills (council tax, leccy)
you pay for home upgrades (extensions, new boiler, decorating)
they have wiggle room to save for their security of future
your home is not at risk if you split as they have paid nothing towards it
if you decide to combine finances in the future, all well and good

Mojisola

Jonjones1 wrote: »

My partner feels that there is no security in this

Your partner is right - he has no rights or security at all.

You could put all his belongings on the doorstep and refuse him entry to the house and he would just have to walk away.

For the first few months at least, he could put the equivalent of half the mortgage into an account and allow that to build up. If you do throw him out, he will have the capital to get set up somewhere else.

If the relationship continues and the savings mount up, he can either buy into the house or the two of you can have the money for joint spending or a rainy day fund.

Tom99

[FONT=Verdana, sans-serif]It is possible to give your partner a beneficial interest in the property using deed of trust if that's what you want to do.

https://www.rocketlawyer.co.uk/article/legal-interest-and-beneficial-interest-in-property.rl
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