Fair equity split

[nrpmum]

House currently just in my name. Husband moved in the day I purchased it. We have subsequently married. In 3.5 years we will mortgage the house, and at the same time put the property into joint tenancy.

I put the whole deposit in, which was 43% of the property value.

Do you think it's fair that we split it so I get 70% value, and he 30% value? That equates to my initial deposit and 50% of the remaining mortgaged part which we pay 50/50 to the mortgage.

Should say husband is not bothered either way, just want to be fair to him.

You are married, you bought the house and moved into at the same time. The ownership is 50/50

Did you have a pre-nup (not that they are robust).

Not necessarily, @BlackcurrantJamonToast.

That seems really fair, OP. Is this in the event of a break up?

Is this in England?

If so, if you are splitting up now, he’ll be legally entitled to very little.

If you split up in 15 years or so, assuming no children and no drastic changes to your situation, he’ll be legally entitled to half.

There’s a sliding scale between the two, and the equity split will be up for negotiation/mediation. You don’t get to decide unilaterally and you don’t get to decide now. Circumstances change.

That seems fair on surface. hope you have wills. Of course in a divorce it will all be taken into account, with other assets income etc

@BlackcurrantJamontoast we are 40's. This house was bought with my money from previous home ownership, in my name only. We were not married when I bought the property. Husband has debt that needs to be repaid prior to transfer of equity/joint ownership.

Pre-nups are pointless because they are not legally binding.

@HollowTalk well I hope we never break up, but I was thinking about how best to protect myself, or my children's future.

@HeddaGarbled yes in England. There will be no children of our own. We are looking at the best split of ownership tbh. Although maybe we should just 50/50 when the time comes.

Best that the deposit is ring fenced then 50/50 though we just did 50:50 because he works full time and earns most the money whereas I put in half the house money, fair over time

That's where our heads are at @stucknoue. I don't forsee a break up appreciate things can change, and over time things may change that put us in a 50/50 situation.

Oh, and we both have wills and life insurance which is in trust to each other, and separate policies in trust to our respective children from previous relationships.

Pre-nups are pointless because they are not legally binding.

Which is what I said, however they do establish that the expectation was not a 50/50 split and so that aspect may be taken into consideration.

My friend and her DH. Both kept original homes and rented. They then purchased a 2nd one jointly - each putting in half. The original houses were detailed legally as being in sole names only (may have been in trust-cant recall) That seemed the best solution. He subsequently sold his and gave the money to his children.