Buying a house with unequal deposits

[Ep9993]

Hi everyone,

I'm buying a house with my partner and we've different deposits. They're putting in over double what I can afford to. We're going to do a deed of trust so that our deposits are protected and then split the mortgage down the middle for ease.

I'm not sure what's fair in terms of paying the stamp duty and also the fees to sell her current home. I am living with her at the moment and paying bills, mortgage etc but its totally her house. We both want to move so should we split estate agent fees and the rest 50/50?

I'm not sure what's fair in terms of paying the stamp duty and also the fees to sell her current home

Stamp duty for new house is 50:50
Costs on her house - 100% to her.

The fees for selling are totally her responsibility not yours. I say that as somebody that was in th same position as her. Whatever she clears after all fees etc, and goes into her bank account, is what she has to put down on deposit.

Stamp duty on buying, you should split 50/50 if that is how the mortgage is going to be paid.

You are right to ring fence the deposits. I bought a third of the joint property outright, but put it in 50/50 which could have been a huge mistage when XH left. Thankfully, he did the moral thing, and didn't take any of the equity that I had put in.

My daughter and her boyfriend are in exactly this situation.

The stamp duty and solicitors’ fee for buying the new property will be split 50:50 but she will pay the
solicitor’s and estate agents fees for selling her flat.

They are also going to protect their unequal deposits.

DS and his partner have just done this.
They have agreed to protect the deposit and will split any equity 50/50 as she is paying half the mortgage. He will pay a higher percentage of the bills. They have bought as tenants in common. Will review it all in a few years or when they have children.
DH and I did the same 40 years ago but eventually merged all finances when we had DC.

Thanks everyone! Based on this I think I'll see if we can split the stamp duty and solicitors fees for buying and she can pay for selling.

Buy the new house should be 50/50 because your arrangement is both keep deposits then 50/50 I think. Selling it is her place her fees

Arnt the estate agents fees for selling their house a cost for them only. If their house went up in value that belongs to them and not you, and so paying the agent is their business???

Can you split the stamp duty fees exactly as per your contribution to the house. Because the other person's share of the house is larger, they pro rata pay a bit more stamp duty, bearing in mind the mortgage is split 50/50

I'd suggest that if the other person's share of the total house is for example 55%, then they should pay 55%of the stamp duty.