I’m about to move into my partner’s house which is in a different city and means I’ll be moving away from my family and friends. I’m ok with this for various reasons. We were originally to both sell, pool resources and buy a place together but the stamp duty thing is ridiculous and would mean giving tens of thousands of pounds to taxman just so we could get a different house. So have compromised and I’ll be moving in there (and we can do up, make it ours)
The issue is with a pre-nupot cohabitation agreement. If I move in and we separate, I’ll be significantly worse off as I’ll be stuck in a city where the houses prices are much more expensive (and also are selling for way over asking price). I’m moving to a new job so won’t be straightforward just to move back. My own house sale hasn’t gone as well as expected (think I’ve missed the boat in terms of boom here) and I don’t have huge amount to equity to bring although I do have some and earn a good salary and we will change his mortgage to a joint one. We may get married or may not.
Do I go for for a pre-nup that asks for what I put in only from point of entry in terms of mortgage payments? Or do I ask for what I put in plus a small sum in case we separate to help start again? There’s loads of equity on his house but I’m aware it’s not mine. I’m not after his money but selling my house now means I am getting rid of my only asset and I have been a single mum for almost 20 years. It’s all I have and were I to keep it on it would be worth a bit once mortgage is paid, although not so much right now. I can’t afford to rent it out as tax liability and being a landlord wouldn’t make it viable plus if I enter another mortgage agreement I would have a second home tax to pay 🙄.
I’m 99% sure we’ll last the distance but I’m also 50 and realistic. If we split up I’d be left a bit stuck in terms of starting again. Feel so vulnerable. He’s being really nice and reasonable which is great until something happens and he isn’t and I’m left wishing I had prepared for every eventually. Thoughts gratefully received. He’s asked me to start thinking about pre-nup. Have already agreed the death thing (grim) which is a two-third, one third split on his favour (he has two DDs I have 1) That seems very fair. It’s the part where I stay alive and we split up that’s bothering me. Im too proud to ask for more than I have contributed but is my sacrifice in terms of moving worth anything or not? I’m going around in circles here.