We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
How much should I borrow?
Proudnanny
Posts: 2 Newbie
I need to buy my ex out ..I do have savings that would go towards the full amount I owe, but I’m just not sure if I should give him ALL of my savings ... & therefore reduce how much I would need to borrow (the rest I would owe him) ... or keep a small amount back for myself as I would have nothing at all to fall back on if I needed a new boiler etc
thank you
thank you
0
Comments
-
Don’t think about it as giving your money to him, you are buying a house. I assume you have agreed the amount, and you have had legal advice?
I would keep a safety net for savings - as you say things crop up. Ideally you should have three months livI got costs, but you know what is realistic in these circumstances.2 -
Borrow more keeping back funds.
Watch for going over a LTV band.
You can always change your mind and overpay.
Not so easy to go the other way.1
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.8K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.4K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards