Joint mortgage overpayments - when only one can overpay

nevhomer

Hi there
I have a joint mortgage of £240k-ish
My partner is selling a second property and expects around £100k back in equity.

It seems to make sense for her to pay off her share of the joint mortgage at the end of the term (next year) and for me to pay my half over time.

This would effectively mean, she has say 70% of the equity, but over time that would eventually be 50% when I have paid off my share.

Any ideas how to get any legal protection on the equity split, in case of a relationship breakdown at any point before it reaches 50%?

Eg how could she make sure she would get her 70%

Thanks

CSI_Yorkshire

Deed of trust.

Declare whatever split you want, changing however you want 

bryanb

There are no shares on a joint mortgage. You are both equally liable for 100% of the payments

CSI_Yorkshire

bryanb said:

There are no shares on a joint mortgage. You are both equally liable for 100% of the payments

There are no shares of the mortgage - that's just something being described for convenience - but of course there can be shares of the equity, which is what the OP asked about.