Buying a house under tenants in common, how would you split?

[Mariagatzs12]

Looking for other opinions. My partner and I are buying a house. The deposit as well as all related expenses are covered by me. Once we move in I think I'll covering around 60% of our expenses. I've always thought of sharing this house 60/40. The solicitors think that that's an on agreement as a starting point, but maybe should separate my deposit from the 60/40. To me that's possibly quite petty. We will get married one day (but it could be in many, many years) so whatever we establish at this moment will become pointless as then everything will.be split 50/50. So in a nutshell would you with what the lawyers say or with your heart?

Yea remove the deposit and then split the rest as per the contributions.

So for example if it's £100k house (unrealistic but easy numbers!)

You put in 20k deposit

The remaining 80k is split 60/40 if that's the percentage you pay each.

If anything happens you're both protected and if you end up married and sharing everything it's fine too. Win/win!

Hopefully he won't feel bad that I'm also protecting the deposit. (We had agreed on 60/40 before but that was including the deposit).

We have a trust deed as we are tenants in common, ours is split like this:

1. Deposit 60/40 split
2. He gets the stamp duty back (providing there's enough equity)
3. Equity is split 50/50
4. this reverts to joint tenants when the first child is born

What my suggestion has been is to put in 50/50 as far as the deposit. We won't be paying equal amounts due to me only earning 1/4 of the income (but I don't pay spousal maintenance), however we think it's the wrong attitude to start off with to be "protecting our individual assets" maybe I'm just trusting but I wouldn't even consider buying unless I was very sure it would work, we're waiting another 6 months or so

@okiedokieme that's more or less how I feel. I don't feel like either option is completely

I meant to say neither option feels completely right

Please do protect your deposit. We are tenants in common in unequal shares. My greater share of the deposit is protected. Everything from that point is 50 50 as we both contribute to upkeep and so on though I do tend to pay a little bit more as I earn more. It's impossible to predict how any relationship will turn out - people change, stuff happens and so on. If you are putting the equity in you just protect it imho. And as others say, if you marry, your partner gets half of it if you split.

Yes, I know I should (my parents agree). But it almost feels like planning for a relationship breakdown. Neither of us has any urgency in getting married. We have a 14 week old together if it makes any difference

Yes having a baby makes a difference, why would you not marry?

I think it's a mix of reasons. I want a big wedding and a nice ring (which will take years to save for). I'm also bound to inherit at least £500k one day so I'm waiting for our relationship to pass the test of "time" so to speak. I'm also aware I contradict myself.

Please don't assume that if you buy as tenants in common once you are married the house is automatically split 50/50. My parents transferred their house from joint ownership to tenants in common as part of inheritance planning. My father then proceeded to have an affair just before he died and left his half of the marital home to his mistress in his will. My mother had to sell the family house and hand over half of the equity to the mistress after he died. An extreme example but I thought worth highlighting.

Jesus edwinbear that is terrible. Your poor mum.

Ps op protect your deposit. If everything works out between you it won't matter.

Yes, if everything works out no harm done. It just feels awful to not live under "what's yours is mine"

Another way of looking at it OP is that if you genuinely believe your relationship will survive, then doing the deed/trust/documents where you safeguard your input shouldn’t be an issue.

Yes , Original that should be the case. I haven't mentioned to him the declaration of trust but he shouldn't have anything against it really.