Equity - Boyfriend - new house argument

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  • Annieireland71
    Annieireland71 Posts: 66 Forumite
    Annieireland71 wrote: »
    * I purchased house 2003 - joint tenants with ex husband

    * I bought him out in august 2015 - mortgae in my name (£100k equity mine)

    * We (current partner & I) remortgaed in December 2017 with additional funds of £47K (tenants in Common 50/50) - current partner contributed NOTHING to equity (remortgaed and took £24K cash from equity)

    * Partner gave up work in December 2017 and has ad hoc contributed to bills & mortgage since

    *current position the house is SSTC cash buyer

    *partner still not working and in A LOT of debt

    * i am working and paying ALL bills Inc lending him money for his bills from my credit cards and overdraft

    *partner has agreed to let me have 100% of current equity for new property IN RETURN for a £12k lump sum (after completion i have been asked to take a loan to give it to him).

    * IN ADDITION he will move with me and my daughters to the new property and contribute 25% to the bills and mortgage on the UNDERSTANDING that he is entitled to 25% of the equity going forward.

    * new mortgage is in my sole name, and on the HTB scheme

    i dont want him contibuting to my mortgage!!!

    what would be the legal positon with regards to this please - thankyou
  • pramsay13
    pramsay13 Posts: 1,943 Forumite
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    Legally if you are tenants in common with 50% share then he owns that amount of equity in the current house.

    If he is offering to give you all the equity in return for a £12k gift it might be worth that (depends on the figures)

    If that also means he will move in with you that's a bit trickier and something for you to decide if it's worth it.
  • Comms69
    Comms69 Posts: 14,229 Forumite
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    Your rights? Well they are ultimately linked to your relationship. If you want to stay with him, may as well give him the 25%, what difference does it make?


    Your legal position is quite simple really. If he pays towards the mortgage he may gain a beneficial interest in your property. That's for a judge to decide; but given the complexity of the relationship I suspect they would agree. IE you've owned jointly prior. He was out of work so couldn't be on the mortgage.
  • Annieireland71
    Annieireland71 Posts: 66 Forumite
    pramsay13 wrote: »
    Legally if you are tenants in common with 50% share then he owns that amount of equity in the current house.

    If he is offering to give you all the equity in return for a £12k gift it might be worth that (depends on the figures)

    If that also means he will move in with you that's a bit trickier and something for you to decide if it's worth it.

    I do love him dearly - I just dont want to be taken advantage of

    I don't know if I can register his interest in the property because he isn't on the mortgage? and its HTB?
  • Annieireland71
    Annieireland71 Posts: 66 Forumite
    Comms69 wrote: »
    Your rights? Well they are ultimately linked to your relationship. If you want to stay with him, may as well give him the 25%, what difference does it make?


    Your legal position is quite simple really. If he pays towards the mortgage he may gain a beneficial interest in your property. That's for a judge to decide; but given the complexity of the relationship I suspect they would agree. IE you've owned jointly prior. He was out of work so couldn't be on the mortgage.


    I'm sorry I don't understand what you mean? what might a judge say?
  • Comms69
    Comms69 Posts: 14,229 Forumite
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    Annieireland71 wrote: »
    I do love him dearly - I just dont want to be taken advantage of

    I don't know if I can register his interest in the property because he isn't on the mortgage? and its HTB?



    Just curious how are you getting HTB after having 3 (?) mortgages?
  • Comms69
    Comms69 Posts: 14,229 Forumite
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    Annieireland71 wrote: »
    I'm sorry I don't understand what you mean? what might a judge say?



    That he has a "beneficial interest" in the property IE he is entitled to a % of it.
  • Annieireland71
    Annieireland71 Posts: 66 Forumite
    Comms69 wrote: »
    Just curious how are you getting HTB after having 3 (?) mortgages?
    the scheme is open to all purchasers not just FTB
  • Mojisola
    Mojisola Posts: 35,557 Forumite
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    Annieireland71 wrote: »
    I do love him dearly - I just dont want to be taken advantage of

    But you are being taken advantage of - and he won't stop while you keep funding his life.

    You might love him but he certainly doesn't love you!
  • Annieireland71
    Annieireland71 Posts: 66 Forumite
    Comms69 wrote: »
    That he has a "beneficial interest" in the property IE he is entitled to a % of it.


    He was out of work so couldn't be on the mortgage

    he cant be on mortgage as he isnt working, plus he is classed as another dependant and brings everything down affordabiity adn term wise
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