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Mortgage Deposit

(3 Posts)
GemmaRalph Sat 30-Jul-16 12:34:16

Hey,

New here so apologies if this isn't the correct section!

My partner and I are purchasing a property and he will be putting more towards the deposit. We intend of singing an agreement of trust to say that is his money should anything happen.

My question is, if over time I'd like to pay him back half the money so we are 'even', how easy is this to change with our solicitor? Will there be any costs involved & what else would we need to do other than amend the agreement of trust?

Any comments from people with experience in this would be greatly appreciated smile

Gemma

Iloveapplepie Sun 31-Jul-16 08:18:38

As I understand it you would just need to pay for a new document, which is a few hundred pounds.

thisisafakename Sun 31-Jul-16 19:57:19

If you are paying a solicitor to draw up a deed of trust now, you can make provision in that for what happens if the money is repaid within a certain period of time. Speak to your conveyancer.
Otherwise, you would need a variation of the original trust deed.

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