Buying into partners house

Inversneck

Hi all,

Just looking for thoughts on whether the following seems a fair setup? Looking at buying a new house. Partner is a home owner already (which they'd sell) but I'm not. They're in the very fortunate position of being a cash buyer so saves a lot on not having a mortgage.

I would also like to be a home owner but don't have much in the way of savings. However, I'm now in the position where I have a very good job and would be able to contribute. 

Initial plan is that partner buys the house, and I pay them back half the cost of the house, meaning eventually we'd own it 50/50 (or a % of the house until that time). I'm the sole income, and so I pay all the bills and other expenses then the remaining money gets split 50/50, which we can do whatever we want with.

Would it be unfair to request the "remaining money" that's split after bills and expenses are paid counts towards the repayment of the house? Otherwise I'd have to make my payment out of my remaining allowance and would have nothing to save or spend on things like holidays etc. 

Has anyone been in this position before or have any advice? Thanks! 

DE_612183

Surely half of the bills and other expenses and half the remaining income goes towards paying off the "loan" that your partner is agreeing to?

For example - your partner buys a house for £300,000

You owe him/her £150,000

You earn £4000 a month and £1000 goes on bills, the other £3k is split £1500 each.

I'd expect your "loan" to go down by £2000 a month ( half of the bills plus the £1500 you pay them ).

Your partner could insist that the outstanding balance attracts interest which would reduce the amount that gets paid off by a bit.

Albermarle

It depends also on how you both think the relationship will progress. If you have been together a while and it all looks very positive? Maybe marriage and kids planned? In that case it is a bit pointless arguing/worrying  over minor issues like.
Would it be unfair to request the "remaining money" that's split after bills and expenses are paid counts towards the repayment of the house?

To begin with she needs to protect her investment with a legal agreement, but if  after a few years you are still together it all these issues become less relevant.