Should my husband contribute to my mortgage

CowboyBoots123

Hello all
Really interested to get thoughts, I purchased a house 2 years ago, I was married to my husband at the time but for reasons I won't go into it was rocky. As I purchased the house from a relative they gave me a reduction in price which my mortgage advisor put down as a deposit. When things relationship wise worked out a Declaration of Trust with a solicitor as drawn and signed which entitles my husband to 50% of any profits only from the house (not 50% of the property sale value) should we separate. 

I have been paying the mortgage, service charge and 50% of all household bills for this time with him paying 50% of household bills.

My question is do you think as he is entitled to profits from the house he should be contributing to the mortgage as well?

I am happy with current arrangement I just wanted others insights.

Thank you 

elsien

What was the reason when you drew up the trust that he got half the profits without paying anything in? By profit do you mean the equity, because is that not all that either of you will walk away with from the property anyway?

The discussions  that you had at the time are going to be relevant to this.

DullGreyGuy

elsien said:

What was the reason when you drew up the trust that he got half the profits without paying anything in? By profit do you mean the equity, because is that not all that either of you will walk away with from the property anyway?

The discussions  that you had at the time are going to be relevant to this.

Presumably "profit" would be if you bought it for £400k and then sell it for £500k the profit is £100k, though the devil will be in the detail and what you factor in when calculating the profit (eg stamp duty)

CowboyBoots123 said:

Hello all
Really interested to get thoughts, I purchased a house 2 years ago, I was married to my husband at the time but for reasons I won't go into it was rocky. As I purchased the house from a relative they gave me a reduction in price which my mortgage advisor put down as a deposit. When things relationship wise worked out a Declaration of Trust with a solicitor as drawn and signed which entitles my husband to 50% of any profits only from the house (not 50% of the property sale value) should we separate. 

I have been paying the mortgage, service charge and 50% of all household bills for this time with him paying 50% of household bills.

My question is do you think as he is entitled to profits from the house he should be contributing to the mortgage as well?

I am happy with current arrangement I just wanted others insights.

It depends how "profit" is defined in the contract. If it's as I've said above then why should they pay? Lets say when you split up its worth identically to what you paid for it so profit is 0 but he's paid a slug of the mortgage for you with nil return. 

sammyjammy

DullGreyGuy said:

elsien said:

What was the reason when you drew up the trust that he got half the profits without paying anything in? By profit do you mean the equity, because is that not all that either of you will walk away with from the property anyway?

The discussions  that you had at the time are going to be relevant to this.

Presumably "profit" would be if you bought it for £400k and then sell it for £500k the profit is £100k, though the devil will be in the detail and what you factor in when calculating the profit (eg stamp duty)

CowboyBoots123 said:

Hello all
Really interested to get thoughts, I purchased a house 2 years ago, I was married to my husband at the time but for reasons I won't go into it was rocky. As I purchased the house from a relative they gave me a reduction in price which my mortgage advisor put down as a deposit. When things relationship wise worked out a Declaration of Trust with a solicitor as drawn and signed which entitles my husband to 50% of any profits only from the house (not 50% of the property sale value) should we separate. 

I have been paying the mortgage, service charge and 50% of all household bills for this time with him paying 50% of household bills.

My question is do you think as he is entitled to profits from the house he should be contributing to the mortgage as well?

I am happy with current arrangement I just wanted others insights.

It depends how "profit" is defined in the contract. If it's as I've said above then why should they pay? Lets say when you split up its worth identically to what you paid for it so profit is 0 but he's paid a slug of the mortgage for you with nil return. 

Other than a roof over his head?

DullGreyGuy

sammyjammy said:

DullGreyGuy said:

elsien said:

What was the reason when you drew up the trust that he got half the profits without paying anything in? By profit do you mean the equity, because is that not all that either of you will walk away with from the property anyway?

The discussions  that you had at the time are going to be relevant to this.

Presumably "profit" would be if you bought it for £400k and then sell it for £500k the profit is £100k, though the devil will be in the detail and what you factor in when calculating the profit (eg stamp duty)

CowboyBoots123 said:

Hello all
Really interested to get thoughts, I purchased a house 2 years ago, I was married to my husband at the time but for reasons I won't go into it was rocky. As I purchased the house from a relative they gave me a reduction in price which my mortgage advisor put down as a deposit. When things relationship wise worked out a Declaration of Trust with a solicitor as drawn and signed which entitles my husband to 50% of any profits only from the house (not 50% of the property sale value) should we separate. 

I have been paying the mortgage, service charge and 50% of all household bills for this time with him paying 50% of household bills.

My question is do you think as he is entitled to profits from the house he should be contributing to the mortgage as well?

I am happy with current arrangement I just wanted others insights.

It depends how "profit" is defined in the contract. If it's as I've said above then why should they pay? Lets say when you split up its worth identically to what you paid for it so profit is 0 but he's paid a slug of the mortgage for you with nil return. 

Other than a roof over his head?

They're paying 50% of the running costs. Maybe they should contribute to the interest portion of the mortgage but any capital repayment when they get nothing of the original purchase price back seems unfair. 

At the end of the day any couple has to work out what works for them both. We all are different and have different priorities, views on morality etc. 

MWT

It is not entirely clear from the first post, but are you both living in the house that you purchased, or is this a 2nd property?

If so, who purchased the property you actually live in?

CowboyBoots123

DullGreyGuy said:

elsien said:

What was the reason when you drew up the trust that he got half the profits without paying anything in? By profit do you mean the equity, because is that not all that either of you will walk away with from the property anyway?

The discussions  that you had at the time are going to be relevant to this.

Presumably "profit" would be if you bought it for £400k and then sell it for £500k the profit is £100k, though the devil will be in the detail and what you factor in when calculating the profit (eg stamp duty)

CowboyBoots123 said:

Hello all
Really interested to get thoughts, I purchased a house 2 years ago, I was married to my husband at the time but for reasons I won't go into it was rocky. As I purchased the house from a relative they gave me a reduction in price which my mortgage advisor put down as a deposit. When things relationship wise worked out a Declaration of Trust with a solicitor as drawn and signed which entitles my husband to 50% of any profits only from the house (not 50% of the property sale value) should we separate. 

I have been paying the mortgage, service charge and 50% of all household bills for this time with him paying 50% of household bills.

My question is do you think as he is entitled to profits from the house he should be contributing to the mortgage as well?

I am happy with current arrangement I just wanted others insights.

It depends how "profit" is defined in the contract. If it's as I've said above then why should they pay? Lets say when you split up its worth identically to what you paid for it so profit is 0 but he's paid a slug of the mortgage for you with nil return. 

Hello profit is in your first example, so if it was brought for £400k we sell for £500k he gets £50k, thank you for your opinion its good to see what other people think

CowboyBoots123

elsien said:

What was the reason when you drew up the trust that he got half the profits without paying anything in? By profit do you mean the equity, because is that not all that either of you will walk away with from the property anyway?

The discussions  that you had at the time are going to be relevant to this.

I felt it was reasonable that he should get 50% of any profits, as he is living in the house and contributing. I say profits as this house is one that if we separate I would stay in and pay him the amount he would be entitled to.

ACG

This isnt meant to come across as a dig, but if you are going to start getting down to "he should pay 50% of the interest" in order to get half the profit from the house, you surely have to question the relationship... 

Im going to assume (rightly or wrongly) he did something he shouldnt and so trust needs building back. But at some point everything must become equal? No? If not, then whats the point in the relationship if it is effectively going to be held over him forever more. 

Rather than looking at an extra £100-200 a month now or whatever, should it not be a case of at what point do things even out? People mess up in relationships, but if you stay together then there comes a time where you have to move forward.

CowboyBoots123

MWT said:

It is not entirely clear from the first post, but are you both living in the house that you purchased, or is this a 2nd property?

If so, who purchased the property you actually live in?

both living in this house. 

housebuyer143

If he's living there and you are not separated I can't understand why he wouldn't pay towards the house he's living in and getting 50% of the profits from??