Equity - Boyfriend - new house argument

Comms69

Annieireland71 wrote: »

the scheme is open to all purchasers not just FTB

Is it a private scheme, I'm confused but I suppose it doesn't matter.


the HTB isa scheme by the govt is strictly for first time buyers. But i'll move on from that point as it's not really relevant to this

Comms69

Annieireland71 wrote: »

He was out of work so couldn't be on the mortgage

he cant be on mortgage as he isnt working, plus he is classed as another dependant and brings everything down affordabiity adn term wise

I'm sorry but huh?


I know, I said that:


Your rights? Well they are ultimately linked to your relationship. If you want to stay with him, may as well give him the 25%, what difference does it make?


Your legal position is quite simple really. If he pays towards the mortgage he may gain a beneficial interest in your property. That's for a judge to decide; but given the complexity of the relationship I suspect they would agree. IE you've owned jointly prior. He was out of work so couldn't be on the mortgage.


Let's try something different. What objective do you want to achieve? In 5 years time, what position do you want to be in - in terms of ownership. For the sake of argument let's assume you're breaking up at this point, because if you stay together forever it's largely irrelevant.

Annieireland71

Comms69 wrote: »

I'm sorry but huh?


I know, I said that:


Your rights? Well they are ultimately linked to your relationship. If you want to stay with him, may as well give him the 25%, what difference does it make?


Your legal position is quite simple really. If he pays towards the mortgage he may gain a beneficial interest in your property. That's for a judge to decide; but given the complexity of the relationship I suspect they would agree. IE you've owned jointly prior. He was out of work so couldn't be on the mortgage.


Let's try something different. What objective do you want to achieve? In 5 years time, what position do you want to be in - in terms of ownership. For the sake of argument let's assume you're breaking up at this point, because if you stay together forever it's largely irrelevant.

when we remortgaged the current property he was working - he stopped one month after completion. so he is on the CURRENT MORTGAGE AND DEEDS

with regards to moving forwards I don't want to have the same thing again - him demanding money because he isn't working and in debt.
i need financial freedom from his employment choices

rach_k

He hasn't treated you fairly so, even if you still love him, I wouldn't worry too much about being fair to him. If he does own 50% of the house and the 12K he wants will be less than the equity he could otherwise claim, I would pay that just to get things straight.

What would happen if you were to move into rented accommodation for a little while before buying again? Would he still agree to the 12K? If so, I'd do that, then you have time to find the perfect home for you and your children. Sort out whether you want him living with you later (and if you forget that he wanted 25% of equity, so be it).

Comms69

Annieireland71 wrote: »

when we remortgaged the current property he was working - he stopped one month after completion. so he is on the CURRENT MORTGAGE AND DEEDS

with regards to moving forwards I don't want to have the same thing again - him demanding money because he isn't working and in debt.
i need financial freedom from his employment choices

Yes I understand. My point was in 5 years time you split up (and you will, because he has no incentive to change) he can go to court and demand a percentage of the property.


I think the only way you'll have freedom is separately. Best of luck to you - a relationship so unbalanced will always struggle

Annieireland71

Comms69 wrote: »

Yes I understand. My point was in 5 years time you split up (and you will, because he has no incentive to change) he can go to court and demand a percentage of the property.


I think the only way you'll have freedom is separately. Best of luck to you - a relationship so unbalanced will always struggle

he can demand all he likes - what is the likelihodd that he will get anything?

what happens if i take him to court for his financial behaviour now and his non contribution? will he still be awarded 50% i have mychildren to look after

Annieireland71

rach_k wrote: »

He hasn't treated you fairly so, even if you still love him, I wouldn't worry too much about being fair to him. If he does own 50% of the house and the 12K he wants will be less than the equity he could otherwise claim, I would pay that just to get things straight.

What would happen if you were to move into rented accommodation for a little while before buying again? Would he still agree to the 12K? If so, I'd do that, then you have time to find the perfect home for you and your children. Sort out whether you want him living with you later (and if you forget that he wanted 25% of equity, so be it).

I think he wants the best of both worlds ..... money and a new house an NO financial commitment - with the added bonus of a financial interest in years to come.

I have suggested he goes back to work and buys a house and I will move in with him on the same terms!!

[Deleted User]

Annieireland71 wrote: »

he can demand all he likes - what is the likelihodd that he will get anything?

what happens if i take him to court for his financial behaviour now and his non contribution? will he still be awarded 50% i have mychildren to look after

If he contributes towards the capital of the new house then a court could very well decide he is entitled to some of the equity. That could be in the form of mortgage payments or the fact that he's only going to take £12k from the sale of the current property when he is entitled to half the equity since you own the current property as TIC 50/50. If you weren't happy with a 50/50 split since you had £100k of equity to start with and he had zero you should have had a different split.

You can forget any notions of taking him to court for his financial behaviour and non-contribution: 1) a court won't care, 2) if it bothered you that much you wouldn't have put up with it since December 2017, 3) you enable his current behaviour by helping him pay his debts.

Your partner is either deluded or he saw you coming.

Grezz24

the fact you are considering taking him to court further down the line, but still want to stay with him...before you buy a house you need to seriously think about if this is the right guy for you..id say hell no personally.

Comms69

Annieireland71 wrote: »

he can demand all he likes - what is the likelihodd that he will get anything?

what happens if i take him to court for his financial behaviour now and his non contribution? will he still be awarded 50% i have mychildren to look after

You have no actionable options.


He already owns 50% of the house, 50% of the equity.


You aren't willing to split up, but are willing to take him to court? That seems unlikely anyway.


You are living as one household. It's common in literally millions of relationships for one party to work and one to stay at home - why do you think your situation is any different in reality?