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Tenants in Common

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Comments

  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    The problem with the get your money back method is it is not really fair and only looks right when the mortgage is the larger portion by a long way.

    Take a variation with the same method
    Deposit 1 50% 
    Deposit 2 0%
    Mortgage 25% each.

    Still fair that 1only gets 50% of all the increase when  they bought 75% of the place.
    Take the extreme case of a £1 mortgage shared.

    If the algorithm does not work for all values it is flawed.

    The simple version of get your money back is and interest free loan of 1/2 the difference.

    For those that think the OP version is fair are saying their OH should give the OP  an interest free loan of £24,500

    Fine if that is what is agreed.

    No need for a fancy deed of trust just a simple loan agreement.
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