We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
The MSE Forum Team would like to wish you all a Merry Christmas. However, we know this time of year can be difficult for some. If you're struggling during the festive period, here's a list of organisations that might be able to help
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Has MSE helped you to save or reclaim money this year? Share your 2025 MoneySaving success stories!
Tennant's in common DoT advice
eventsprov
Posts: 1 Newbie
Hello, I'm looking for advice please and to see if what I'm thinking below is correct:
My partner has a mortgage on his property, the mortgage is ending so he is remortgaging and adding me to the mortgage as a tennants in common with a DoT protecting our shares.
Value of property £550,000
Mortgage amount £292,000
His share 72%
My share 28%
We want to pay the monthly repayments 50/50.
If something were to happen, is my thinking below right? The property value £550,000 minus the remaining amount of mortgage loan then he gets 72% and I get 28% of that, then say the price of the house had increased during the start to end of this period we'd split that 50/50 on top of our initial 28/72 percentages as were splitting the repayments 50/50? Or do we split the repayments 28/72 and then just split the equity that way when selling?
My partner has a mortgage on his property, the mortgage is ending so he is remortgaging and adding me to the mortgage as a tennants in common with a DoT protecting our shares.
Value of property £550,000
Mortgage amount £292,000
His share 72%
My share 28%
We want to pay the monthly repayments 50/50.
If something were to happen, is my thinking below right? The property value £550,000 minus the remaining amount of mortgage loan then he gets 72% and I get 28% of that, then say the price of the house had increased during the start to end of this period we'd split that 50/50 on top of our initial 28/72 percentages as were splitting the repayments 50/50? Or do we split the repayments 28/72 and then just split the equity that way when selling?
0
Comments
-
It is up to you whether you proceed on the 72% 28% route or simply consider his equity as being a deposit ie £258K payable on sale then the remainder split 50.50 in line with your mortgage payments0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.9K Banking & Borrowing
- 253.9K Reduce Debt & Boost Income
- 454.7K Spending & Discounts
- 246K Work, Benefits & Business
- 602.1K Mortgages, Homes & Bills
- 177.8K Life & Family
- 259.9K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards