Deed of trust?

getmore4less

emkate9 said:

getmore4less said:

The get you money back is just the same as the one providing the bigger portion of cash given a loan(interest free) of half the difference to the other person

Another way to set this up is to just go 50:50 and have a side loan agreement for the difference  independent of the property.

It can have payment terms that pay it off over time or just wait till property is sold.

Can be a good solution when the one with less cash can afford more from income they just pay off the loan

Much easier to understand and deal with than a deed of trust.


More important are the terms that decide when the place should be sold or terms of any buyout if things go wrong.

This is a good idea. Unfortunately in my case, my income isn't that high and the deposit was quite large so it'd probably take me a couple decades to pay half back!
From what I've read the deed of trust does cover things like sales/buyouts though as well the shares.

We've found an online place with good reviews that does it for a lot cheaper, I know cheap isn't always best but I'm thinking as we're not asking for anything complicated we just need someone to write a basic deed accurately. 

If it substantial difference then usually the preferred option is equitable shares rather than an interest free loan.

There is a modified version of the loan option where you split the mortgage payments to be the ownership back to 50:50

Effect is the loan gets paid back over the same term as the mortgage ant the same interest rate.

emkate9

Chooru said:

How much are they charging you for everything else?!?!

Our Declaration of Trust cost us £110.

All the quotes we had were over £2k for conveyancing in our area (outer London). Only way to get cheaper was to use one of those online places but they have mixed reviews. Hence us trying to cut costs with the DoT!