if I have the deposit and he can’t go on the mortgage should we really be buying together?
I have approx £25000 deposit and will have more to cover the fees etc when we buy.
he has no deposit and has over £20000 of debt and most of it is defaulted.
he will not be approved to go on a mortgage.
hos debt is all from before we met, while I knew he had debts, I didn’t realise the extent until we moved in together.
my solicitor has a advised that if I (we) buy a house, as I am paying the full deposit and will be the sole person responsible for paying it, that I have a cohabitation agreement drawn up to ring fence the house, absolving him of any claim on the property. I would of course have to be solely paying the mortgage and not take any money from him for the house. I will be solely responsible for repairs and improvement though we will split the cost of the household bills.
I don’t think if we split up that he would make a claim on the house but I guess you never really know unless you break up, I want to protect the children’s home.
some advice would be greatly received.