Trust deed apportionment, unequal deposit, equal ongoing payments

Thrugelmir

Candice-Marie said:

Sorry to jump in, but we're going to have to draw up some sort of similar document in the next few months.  It sounds like it's a Trust Deed that we'll need  - were you advised that was the case, and does the solicitor need a particular specialism?

Decide what you want to do between yourselves. Then the solicitor can convert this into a legal document. One of the parties should seek independent legal advice prior to signing the document. 
The more complex you make it. The greater the number of variables that will potentially come into play. 
Don't expect the solicitor to come up with all the answers for you. Not their role. 

getmore4less

carl0s said:

getmore4less said:

 and if one makes a large overpayment they pay less of the mortgage going forward.

That's a straightforward way to look at it, but my reason for making overpayments would be to reduce our chance of ever being caught in bad debt, and reduce the cost of the loan for us both over the long term. Making an overpayment and then just skipping on the regular payments would be pointless surely.

You don't stop paying you just change the proportion of the payments being made accounting for the extra over payment(s)

pretty easy to knock up a spread sheet to do it for all payments so you can pay what you want when you want and keep a running balance of how much of the debt you each owe.
or
to keep it simpler have the extra overpayments as a side debt but then why not do that with the deposit as well that is just an overpayment at the start and then the trust deed becomes a much simpler everything 50:50  with a side debt to balance it up.

You can build in the can't pay/won't pay into this if the OH can't really afford this house, which you have hinted at

If they have a smaller deposit and earn less you may have been better off going for a different split to make it easier for them