Buying house with partner

Tenants in common and a declaration of trust. Do not go for the option he is suggesting as tbh there is a reason he hasn't saved a single penny before... you said he is financially unreliable. Your Spidey senses are screaming no and trust them!! If you do it his way and you part company with no documents then he will be entitled to half. Don't be daft @WhoevenamIinlife you know the answer deep down. Protect your 350k
Be mindful if you marry your declaration of trust becomes null and void unless you sign a pre nup. Protect it at all costs! Your declaration would look something like this. When selling the property OP to get back 350k deposit, partner 10k. And any profit split 50.50. I would also pay 50.50 in mortgage do there can be no arguments. Personally, stay where you are and see what happens in a year as there is a baby involved. Good luck! 💐

Just buy a house yourself, using your existing equity which fits you and your three children in. Of course he can live there with you too, paying half the bills - but make sure you cover 100% of the mortgage.

He can buy his own separate property for his own stability if he so wishes. Don't marry.

are. For clarity he did have a poor financial history prior to meeting hence no saving or property -

just the kind of prince I would want to introduce in to my young children’s lives and have a baby with

This will end badly op

Either protect your deposit or put down a smaller amount he can match and invest the rest. Don't let him steal from you and your kids.

Of course he wants 50/50 home ownership!

Go to a solicitor and get an agreement drawn up to protect your assets in the property.

For clarity he did have a poor financial history prior to meeting hence no saving or property
Perhaps you need to re read Op
Her quote

He's a contractor and also on a salary?

He's clearly poor at financial security at best, at worst he's probably a gambler

Reaching, or projecting? who knows

It's quite common for a low earner previously on 35k to not have a property or assets, he has only recently got the contract £650 a day so he is now a high earner and has saved 10k since December so highly unlikely to be a gambler.

Yes he has a child... with OP. A child often focusses a mind to make roots and start laying foundations.

32.5% of the value mortgaged is his debt. It's not equity until it's paid. If he cant/won't pay his debt then it doesn't all of a sudden get paid (unless OP decides to stupidly pay it, which i doubt)

Take your bigoted opinion and project it elsewhere.

No, You need to calculate the % of the house you own vs % they own. Base this on the deposit or whats left after. He'll almost have nothing after stamp duty and fees from 10k

Ok but you a ignoring major red flags
He's earning 35K but has no money and no stability-why?
Alcohol/ gambling/ overspending ?
He is telling you he WANTS 50/50
50/50 of YOUR money whilst he has zero

If you can't see the brass neck cheek aka financial abuse here then good luck
Be offended just don't make a huge financial mistake

I'm currently buying a property with DP, we earn about the same but he is supplying all the deposit from his house sale. We're buying as tenants in common with a declaration of trust, if the property is sold, he gets the deposit back, after that any equity would be split 50/50 between us. The mortgage is in joint names and we'll contibute equally to the payments. I don't know if this is still completely fair on him, but he is happy and so am I.

Good god it gets worse..."a poor financial history" he might well be in a phase right now where he has paid of his debts but he's earning a fortune.. The biggest predictor of someone's future behaviour is their past behaviour. Assuming this man isn't 22 he has a history of getting into debt (which frankly gives most us the massive ick.... It's just so childlike) so a high likelihood of mismanagement of money in the future. The position your in now where you have full access to accounts (presumably to monitor the manchild) is fine....Up until the point he gets a new card/account that he doesn't wish to be monitored... Honestly please wake up.... He's a walking liability

How long have you been with him before getting pregnant?

Buy as tenants in common, make a will and sign over your half of the property to your children. This way their inheritance is secured for their future. If you don't then there's no guarantee that your original dd's will receive anything after you die. It would just be your shared child with your partner that would inherit.

I wouldn't agree to buying anything with him at all. In fact, I'd leave everything in trust to my children. Children are more important than partners who come and go over time but your kids are your blood. Put them first always.

@Dogthespot one of those children is his?!

Let's say house you are buying is £700,000. You own 50% outright as you've paid the £350k deposit - this is protected, including any rise/fall the value of your % equity stake.

You then need to decide who is owning the 50% debt. You are risking it here as if he doesn't pay your house could still get repossessed.

I think you need to wait 6 months, at least, anyway whilst you save up for stamp duty, solicitors etc etc.
Do not marry him.

No no no...Please please spend a few hundred to get some time with a lawyer...He has no capital (equity or savings) to put into a new property. You will own 99 % of the property because you have the equity and can get a mortgage. His 10k might not even give him 1 % tbh. He just about has money to contribute to fees. You cannot allow your children's security (or yours) to be thrown away like this. I can't for the life of me see why you would even offer tenants in common to a man who has zero mathematical or financial nouse (or is a lazy chancery) and has not been sufficiently capable at adulting to save any money/sort his own housing out.
Please please get some legal advice and protect your children's future

Given that you're already divorced then you know full well that relationships can go wrong.
Protect your deposit buy as T i C

Absolutely this
He's after what he can get here, not adult enough to have anything to offer Op and his own child
Why oh why do women get lumbered with these men?
Pound to a penny Ops previous relationship was abusive and here we are ...

No, as PPs have said protecting your deposit isn’t enough.

You’re under reacting to his suggestion.

Absolutely don’t agree to him 50/50 and covering expenses. Because he will put in £10k and will get to walk away with half, potentially round the mark of £150k, if you split. Fucking hell. No way. Your daughters will be losing out massively here.

Of course he wants to get on property ladder and have a big house. Ha.

You trust him now but his proposition is not fair and i bet he knows that. You will also be tied to him and fear of losing massive amount in separation will make you accept all sorts of bevahiours that might surface later. I bet he realises that too.

Do not do this. Get a professional advice on this and if he kicks off then you know what he’s after.

I'm gonna comment again because I'm so incensed by his suggestion.

If he's earning £650 A DAY his annual salary is in excess of £140k A YEAR.

Or he's only working 4.5 days a month?

You're poles apart in your financial savvy op. You CANNOT risk the equity you've already got to buy a house with a man who is so financially irresponsible/lying about his expenses AND who isn't capable of understanding why his proposal is so preposterous and monumentally unfair on you

DON'T DO IT