Rectifying unequal deposits

biscuit77

My partner and I bought a house 8 years ago. At the time I put down £55k deposit while added £7k. We created a declaration of trust and all was well. Since then, everything we have done to the house and mortgage repayments has been completely equal. We have now paid off the mortgage and my partner wants to start paying me money so that the deposit element is equal i.e. she wants to pay me £24k so that on paper we both put in £31k - is it that simple? 

getmore4less

What did the declaration of trust say?

If it was something like get your deposits back first, split the rest 50:50 and pay everything 50:50

That is the equivalent of lending the OH 1/2 the difference interest free.

Did you include all the purchase costs with who paid for them?

Paid everything 50:50 since then the OH paying you £24k sorts it out as per that type of agreement..

If the DOT says something different then you can review if you want to change now toi the current proposal..

steampowered

It could be that simple, if you are happy with it.

I think your partner should be paying a bit more than £24k to account for inflation. According to the Bank of England's inflation calculator, £24,000 eight years ago would be worth £28,982 today. 

https://www.bankofengland.co.uk/monetary-policy/inflation/inflation-calculator