Deed of Trust wording, does this sound fair?

492800

We are a couple of 7 years. Bought a flat 1.5 years ago.
We are not married/civil partnered but certainly hope this is our forever relationship, but are still putting a deed of trust together.

I have a big deposit, but a much lower wage so will pay less each month.
He earns lots more and has lots of stocks/shares/savings but didn't want to match my deposit just so he could keep his other investments elsewhere.
He pays more each month to the mortgage.
All bills etc are 50/50

Without each other we would not have bought the place so even with different amounts of cash input to this home, therefore would consider all profit/loss to be 50/50

Property price - £650k
My deposit - £300k
His deposit - £60k
Mortgage - £290k
Ownership is 50/50
Mortgage payments are £2.5k a month, I pay £500, partner pays £2k.

In the awful scenario where we split up, we are drafting up a deed of trust with a solicitor and thinking of requesting the following from our solicitor.

On the sale of the property, the proceeds shall be divided as:

• Legal costs and estate agents fees to be paid equally.
• Each individual’s total contribution towards the capital; deposits and respective contributions for repayment of the mortgage principal amount to be taken out individually.
• The final remaining proceeds from the sale are then split equally between us.

(FYI, any payments toward mortgage interest will not be included in the sums as it is a sunk cost, but that should be implied in the above statement?)

Does this sound like a fair arrangement?

We are a level-headed male couple and openly discuss this. He's 40, I'm 50. TBH, he will be fortunate be able to retire before me, but I'd like to pay off my side of the mortgage ASAP so I can get to saving for retirement.
Would be great to hear other's thoughts on this.
Thanks

km1500

slightly disadvantageous to you, because of the effects of inflation on your 300k versus their 60k

or to put it another way over time you could have got a lot more interest out of your 300k savings compared with the amount of interest they could have got on their 60k

if you wanted to you could remedy this by saying that deposits etc are increased by inflation.

however you say they are going to pay more in mortgage each month therefore this also has to be taken into account

the complety scrupulously fair way to do it is to do an internal rate of return spreadsheet where each month contributions are added (the first month being 300k and 60k) and should you ever come to sell the house then the final row in the spreadsheet will be the total each of you have contributed adjusted by inflation

 obviously you'll have to put the inflation figures in each year

492800

Thanks for the reply.
Just out of curiosity, If I needed to do the sums in 5 - 10 years, is it easy to work out how much capital, and how much interest was paid month by month to work out the retrospective apportionments on our £500 / £2000 mortgage payments?