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Partner paying deposit, Im paying mortgage
Penicuik
Posts: 1 Newbie
Hello, My son & partner are buying a house jointly. They are not married (yet). His partner is paying 50K deposit and he will be paying the mortgage & bills He earns the most money. Partner food etc. The are drawing up a deed of trust for the 50k, should they separate. Where does my son stand as being the one paying the mortgage. 303k house. What % would he get? Does the deposit change with fluctuation of house market? Is there a claw he could have in the event ( hopefully not ) they separate. Would his partner have her 50k and half the equity ?
thank you.
thank you.
0
Comments
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Is it a joint mortgage?
Most lenders wouldn't like someone paying the deposit and living in the property but not being on the mortgage0 -
The drawn up declaration of trust covers all bases on how the equity in the property will be allocated. Starting point is your son and partner deciding themselves what they are comfortable with.0
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