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Relationships

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Original poster

Buying a house together

3 replies

LOTR · 04/03/2019 21:36

Hi, I'd really appreciate some advice. Sorry if the thread is in the wrong place!

Has anyone bought a house with their OH with percentage share? What percentage did you go with? What factors did you consider when doing this?

Background is that my fiance and I are buying a house at the moment. We've been asked to fill in the percentage split paperwork and would appreciate some other ideas...worried about future impact on the relationship.

I am putting in most of the money as he has spent his savings over the last few months when he was unexpectedly made redundant. He is back working now but I'm still main breadwinner as my career is very stable. The money isn't my savings, it is my inheritance from parents (unexpected death).

Advice/experience would be great.

OP posts:

tenbob · 04/03/2019 21:39

What % of the deposit are you each putting in?
What % of the mortgage will you each pay?
What’s the long term plan - marriage, kids, work?

That’s the starting point - it’s irrelevant without that detail

Original poster

LOTR · 04/03/2019 21:45

I'm putting in 100% deposit. If he had not spent his savings it would be more like 95%.

We were going to combine finances rather than split the mortgage - all finances in together so what we earn is halved between us regardless of who earns what.

We get married next year, maybe kids year or two after. I get good maternity pay with my job so I'd probably take the extended leave of a year.

He has a job now but will be doing training to get qualifications to become more stable.

OP posts:

LemonTT · 04/03/2019 22:02

Well you want to protect your deposit as a % share. So for example if the price of the house is £150k and you are paying a £50k deposit then you get 1/3 of equity first. Then you split the remaining equity 50%.

Not sure what you mean by combining income and halving household costs. This only makes sense if you earn roughly the same. Otherwise one of you is subbing the other. Fine if that’s what you mean to do. Personally I would give it a couple of years of living together before doing this. If you earn more match his income and save the rest in your name. If you marry and / or have kids in a committed relationship then you combine it.

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