STBXH helping me buy a house - what paperwork do I need?

[Krustyandthekids]

Just as the title says really - STBXH has moved in with his new gf and has said he'd loan me / the children some money from the sale of our family home so that I can buy something suitable for two growing boys.

I would like something drawn up that says he puts this I trust to the children / so that he gets it back but only at certain 'break points'... (like when youngest turns 18 / I decide to cohabit etc).

Is there a name for such an agreement? Do I need a solicitor to draw this up? Or a mediator? Or just us and have it witnessed? I don't have a clue!

Thanks in advance!

Is it a loan to buy outright or a loan to get a mortgage?

It definitely wouldn't be a mediator. Possibly a solicitor.

You could get a separation agreement but that is not legally binding, although the courts will normally stick to the terms of the agreement when you divorce.

If you and your husband are divorcing, this will form part of the financial settlement. If that is the situation you don't need a separate agreement for this.

Thank you!

We are not divorcing (yet) and it's a loan to help me have a larger deposit so I need to get less of a mortgage...

Hi there, I'm a property solicitor.

You need to see a sol about the Conveyancing anyway, tell them that this is also happening and they'll deal with a simple CH1 (charge) for you, at extra cost (no more than (£500 extra).

Your ex will need a solicitor too, and if you are getting a normal mortgage as well they will have to be dealt with, as they'll need to agree.

Good luck.

The reason I asked is that it's worth checking out the mortgage side of this.
In many cases, if you receive a chunk of money from someone that will go towards a deposit, the person giving it will have to sign something to say it's a gift rather than a loan.
This is because a loan towards a property would mean that someone other than the bank has an interest in the property and the bank might not recover their money if the house has to be sold.

I hope that makes sense.

I'd look into how much I'd get if divorcing before agreeing anything.