Buying house with Boyfriend but only his name on the mortgage...how can I protect me?

englishrosie · 17 May 2017 at 10:27AM

Hi All,

Me and my partner are moving into a new build house together. I am self employed and have been so for under a year, so when we went for the mortgage we had to do it in his name only.

Although I am not worried about our relationship, I know from past experience in a long term relationship that this may not always be the case. I just want to know if I can and how protect my interests in the house should we ever split up.

I am giving money towards the deposit, although not officially because the solicitor said if i contribute I have to write a gifting letter stating no claim to the house. My partner just scraped through getting the mortgage for just him stating his son will be living there. But myself my 2 children and his other daughter will also be moving in once he gets the house. So I have just put the funds into his bank account from mine. My contribution will be around £5000 His is larger as he got some inheritance from his Nan's passing so he'll be putting in around £26000.

The finishing touches on our new build have also been put onto my credit card totaling £3500.
Which we will clear off together. We both put into the bills 50/50 and will in the new house including the mortgage. We are not married or engaged as yet although hope to be in the future, but I need to know I'd be protected somehow should it go south. Not just for me or even my daughter who is 20 now, but mostly for my disabled son.

Any advicewould be greatly appreciated

andrewmp · 17 May 2017 at 10:51AM

Did your mortgage advisor tell you to pretend you weren't gifting him a deposit?

Will the lender not wonder where they money came from? Sounds like you're taking a huge risk to me. Good luck.

csnann · 17 May 2017 at 11:13AM

There is nothing you can do to protect your money. You have signed a legal declaration stating that the money was a gift, so even if you tried to go to court, you would be risking a fraud charge against you from the mortgage company. Didn't you know that making false declarations in a financial contract is a crime?

englishrosie · 17 May 2017 at 11:15AM

I've not signed anything, just put some money into his account each month, which he's put into his savings after.

Mojisola · 17 May 2017 at 11:17AM

englishrosie wrote: »

I've not signed anything, just put some money into his account each month, which he's put into his savings after.

So the money is his - he could walk away with it and there's nothing you could do; he can use it to pay for the house in his name and you have no claim on it.

englishrosie · 17 May 2017 at 11:18AM

I'm not worried about getting the deposit money back, its just that after say 10 years we break up, but i've been helping pay the mortage that I will be entitled to some of the house for my contributions

itsanne · 17 May 2017 at 11:19AM

Are you sure you can give him the money like that? The £5000 you've put into his account will show up as having been recently deposited and is likely to be queried by his mortgage provider. (I've recently gifted money to my daughter towards a house purchase and seen how thoroughly her finances were checked.)

Candyapple · 17 May 2017 at 11:19AM

http://www.thisismoney.co.uk/money/experts/article-2782167/How-protect-youre-buying-home-partner-arent-married.html

Angry_Bear · 17 May 2017 at 11:21AM

englishrosie wrote: »

I'm not worried about getting the deposit money back, its just that after say 10 years we break up, but i've been helping pay the mortage that I will be entitled to some of the house for my contributions

You won't. You *might* be able to argue that you have a beneficial interest in the house and get some share of any equity. But you'd have to fight it through court and it would be expensive and far from straight forward.

Mojisola · 17 May 2017 at 11:23AM

Beneficial interest - but it isn't cheap to go to court to get your rights.

https://www.citizensadvice.org.uk/family/living-together-marriage-and-civil-partnership/living-together-and-marriage-legal-differences/#h-housing
"If you don't have children and your partner is the sole owner, the only way you may be able to claim long-term rights to the property is if you are able to show you have a 'beneficial interest' in it.

This is a way of getting a court to formally recognise contributions you have made towards the home. The court could also recognise an understanding you had with your ex-partner when you bought the home that you would have a share in it if it were sold.

If you are able to prove you have a beneficial interest in the home, you may be able, for example, to get the right to live in the home, prevent your ex-partner from living there or get a share of the proceeds if the home is sold."

itsanne · 17 May 2017 at 11:26AM

englishrosie wrote: »

Hi All,

I am self employed and have been so for under a year, so when we went for the mortgage we had to do it in his name only.

englishrosie wrote: »

I'm not worried about getting the deposit money back, its just that after say 10 years we break up, but i've been helping pay the mortage that I will be entitled to some of the house for my contributions

Once you've been self-employed long enough to be accepted on a mortgage, I would suggest you have your name added. I believe you need 2-3 years proof of income, so that means you could get it sorted either in a year's time or one more year beyond that - no need to be worrying about what happens ten years from now.

Buying house with Boyfriend but only his name on the mortgage...how can I protect me?

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