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To be worried about paying HIS mortgage

12 replies

Macbeth8 · 11/05/2022 14:42

I have just paid a large sum into my partner's mortgage. I came into money and it was agreed I would contribute to the mortgage he had when I first movrd in.
Im having second thoughts.
Financially, is this advisable?
We are married with three kids. How do I protect this money that ive put in or is it too late?

OP posts:
YellowHpok · 11/05/2022 14:44

I think as long as you're married it's fine. The house is a marital asset, as are you're savings/money. So if you divorced you'd both get half of each anyway.

Macbeth8 · 11/05/2022 14:46

So that makes me think paying in was pointless as if I didnt pay any money in and we divorced, I would get half if the house anyway?
It just made me think should I have kept it in a savings account for a rainy day..

OP posts:
YellowHpok · 11/05/2022 14:48

It is working harder for you against the mortgage though as it will significantly reduce the interest payments on it.

To me it sounds like a sensible thing to do, but I'm wondering if there's a bit of a back story with finances and access to money?

BritInUS1 · 11/05/2022 14:49

It's too late now isn't it - you've already done it

Vidax · 11/05/2022 15:46

Macbeth8 · 11/05/2022 14:46

So that makes me think paying in was pointless as if I didnt pay any money in and we divorced, I would get half if the house anyway?
It just made me think should I have kept it in a savings account for a rainy day..

Are you planning on divorce?

Mia85 · 11/05/2022 15:54

Is the house in joint names? If not, is there any reason why it couldn't be?

Macbeth8 · 11/05/2022 16:04

Vidax · 11/05/2022 15:46

Are you planning on divorce?

Not planning but recently his behaviour hasnt been very husbandy if that makes sense..its got me thinking and worrying.

OP posts:
ChiswickFlo · 11/05/2022 16:06

You're married
So to my knowledge if you divorced he would be entitled to half the money whether it be in the form of savings or mortgage....

ChiswickFlo · 11/05/2022 16:07

If the house isn't in joint names get an interest put on it
Easy to do and costs about £15

DeskInUse · 11/05/2022 16:08

You're married. So the house and savings (inheritance), would be out in the pot to be split upon divorce anyway

Movingonup22 · 11/05/2022 16:09

Your married son in the end doesn’t make a difference. But for sure start popping a rainy day stash sounds like

NumberTheory · 11/05/2022 17:24

Macbeth8 · 11/05/2022 14:46

So that makes me think paying in was pointless as if I didnt pay any money in and we divorced, I would get half if the house anyway?
It just made me think should I have kept it in a savings account for a rainy day..

Assuming you're in England, if the money came from an inheritance you could, potentially, have kept it separate then if you divorced and if there were enough other assets in the marriage it might not have been considered in the division of assets and you would have kept it on top of the settlement. But you've put it into the house now so it's probably a bit late to go down that route.

Normally savings are just another asset of the marriage, so putting it into the house or keeping it in an account in your name ought to make no difference on divorce. Would have given you control of it while you're still married, though. Just as putting it into a house in just his name gives him control.

If you think divorce may be on the cards it might be worth talking to a specialist who can give you an idea of what that might look like so you can make decisions that lessen your financial vulnerability.

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