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How much should I borrow?

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 

Comments

  • Redwino222
    Redwino222 Posts: 490 Forumite
    100 Posts Second Anniversary Name Dropper
    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.  
  • getmore4less
    getmore4less Posts: 46,882 Forumite
    Part of the Furniture 10,000 Posts Name Dropper I've helped Parliament
    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.
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