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Protecting my money
Renonewbie
Posts: 12 Forumite
Hello,
My boyfriend and I are looking at buying our first house together. I will be putting down the deposit and have around £60,000 saved. I understand (roughly) that when putting down the deposit we can draw up a deed which will set out what percentage of the house will be mine and what will be my boyfriends ( we will be splitting mortgage repayments 50/50) should we come to sell it - giving me peace of mind that my money is safe.
However, we have recently seen a house we like but needs some renovation work. If we were to splilt my £60,000 between the deposit and the cost of the renovations how can I go about protecting the money spent on the renovations? I hope that makes sense and thanks for any help!
My boyfriend and I are looking at buying our first house together. I will be putting down the deposit and have around £60,000 saved. I understand (roughly) that when putting down the deposit we can draw up a deed which will set out what percentage of the house will be mine and what will be my boyfriends ( we will be splitting mortgage repayments 50/50) should we come to sell it - giving me peace of mind that my money is safe.
However, we have recently seen a house we like but needs some renovation work. If we were to splilt my £60,000 between the deposit and the cost of the renovations how can I go about protecting the money spent on the renovations? I hope that makes sense and thanks for any help!
0
Comments
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You need to speak to a solicitor and get the agreement drawn up on who put what into the property.
You could agree to unequal shares should you break up and need to sell
1
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