TopBanana

I knew that would get your attention!

So, I'm taking the plunge and moving in with the missus in the next couple of months. We're going to rent first and see how that goes before buying anywhere together. We both currently own houses - she's just sold hers and mine's on the market still. She will have enough cash left over from her sale to pay off the remainder of my mortgage for me which would allow me to move in with her - without having paying rent and my mortgage at the same time. What sort of legal framework could we set up in order to provide her with some security for the dosh? Could she put a charge against my property in the same way as a mortgage comany does, or is there a better way of doing it?

(Yes, yes - before you say it, we'll both seek professional advice before we go through with anything - just getting ideas!)

Thanks

hail-hail

I think you should be able to sign over a % ownership in the house, match this to the cash that is being put in.
However, if you dump her like bad curry in the future she will get more than she invested as the house value will rise

IWatkins

I would have thought that a solicater would be able to draw up a contract between yourselves that basically says, if you split etc. you will repay her the amount she paid your mortage off. I.e. a receipt of sorts.

Cheers

Ian

Chrisgr31

You do not want to sell her half the house or she'll get lumbered with stamp duty! However there is nothing to prevent her loaning you £x thousand and having a charge on the house like a building society would.

MattOz

You can draw up something called a "Declaration of Trust" between you. This will detail the financial benefit that she or you would have should things not work out. Basically, I put 10% into the house that my fiancee and I live in. If things go pear shaped, I get my 10% back, before the remainder gets split. It's a bit like a pre-nup! LOL

Matt

Peanuts

iTrader: (15)

draw up a two bit dodgy document and then if things go pear shaped tear it up and make for the hills...

Brendan Hughes

Why not just get married, then divorce her and claim for half of her assets?

TopBanana

Hey - who let the muppets in?!

Current plan is to remortgage to a no fee, no tie-in offset mortgage and have the money sitting in an offset current account so we can back easily enough if we need to. (finger crossed we shouldn't)