Tenants in common calculation help

getmore4less

mpr87 wrote: »

thanks for the tips, Yeah everything else is being split 50/50, so mortgage costs/solicitor fee's and survey etc are all 50/50 she just happens to have much more savings than me, Originally we were going to put the same deposit in but in order to get our LTV ratio down to 75% to help get a better mortgage rate she offered to put more in.

Stick the difference as a side loan keep everything a lot simpler.

Once you have different ownership % you need to fund any maintenance/improvements at the same % to keep it right.

Tom99

getmore4less wrote: »

Stick the difference as a side loan keep everything a lot simpler.
Once you have different ownership % you need to fund any maintenance/improvements at the same % to keep it right.

In this case the difference in deposit is not that great so a loan of c £6,000 makes a lot of sense.

mpr87

Thanks for the info, Very Helpful.



We don't have to pay any stamp duty as we a FTB but so far all fee's are being paid 50/50.



The idea of paying back the difference in deposits might be useful however she is a much bigger earner than I am so I might struggle to pay a "Loan" of £6000 within a reasonable timescale but it is something I can consider.

getmore4less

She could just gift it.

Often when income levels are mismatched 50:50 looks good on paper but the lower income drives lowest conmon denominater for spends, the higher either saves or subsidises the other on discretionary spending.

getmore4less

Thinking about it if the income disparity is big might you be better with a different split on the house to balance disposable a bit, just do living cost on 50:50.