AIBU to keep the money?

[Indierock66]

Less than a year ago myself and my partner bought a house together. I paid 85% of the deposit (ie over half the cost of the house). My partner pays the majority of the monthly mortgage repayments.

I’ve now come into some money which could pay off the majority of the mortgage. AIBU to not want to do that and keep it for myself?

Would your partner expect you to pay off the mortgage? Do you own the house jointly? 50/50 if you split? Does he earn more thsn you and have savings? Do you feel you need to ringfence some savings?

I wouldn't yet.

He's paying the most most gage. At what point will his extra payments balance your extra deposit?

At that point you could suggest paying half the remaining deposit in one lump and him taking on the whole of the remaining mortgage, or a proportion and keep up the skewed payments.

I think it's prudent to keep some money back but I'd be a bit pissed off if DH inherited several hundred k and was living the life of riley with a jet set lifestyle and I was barely breaking even paying 90% of the mortgage so how much money goes int point expenses depends on circumstance

Depends on how you view the relationship. If you're a team and share finances then this is a huge betrayal of trust and is selfish.

However given the description you've given of your financial situation - you paying 85% deposit, then him making mortgage payments on his own, it sounds like you two like to keep your finances separate. In which case it's entirely up to you what you do with the money. One thing I would say though is don't lie to DP about anything - if you're keeping the money all to yourself make sure you're up front about it. Also if it's a shedloads of money that will change your lifestyle you should consider the impact that this would have on the relationship. There comes a point where funds disparity is just plain old uncomfortable between a couple if they aren't sharing.

The question is do you want to pay off the mortgage?
It doesnt sound like you have joint finances & are part of a team & don't want to pay it off.
If you paid it off would you charge rent to him as you paid for the house.
Pay the mortgage payments 50/50. The difference in the deposit he can pay you back with the money has not paying on the mortgage.
From the info you've given the difference in what you've paid will/is affecting you.

We own the house 50/50. We have joint finances but also our own savings (isn’t this normal?). We both pay the mortgage and bills but he pays the vast majority. This is because he earns a lot more than I do and to make up some of the difference in the deposit payment. This will never even out but I’m happy with this.

I guess my thinking is I’ve saved and worked hard for 25+ years, mortgage free, whereas he led a carefree and frivolous life and was in debt when we met.

If you keep your savings separate, then it stands to reason you should keep the money in your name?

I’d also have a look at the arrangement re the house as you seem to have funded most of it but only get 50%. Doesn’t seem very equitable.