He’s on a higher salary and suggests that I pay more of the mortgage as he will put more into the depositQ My boyfriend and I would like to buy our first property together. We will be joint owners and both contribute towards the deposit, the repayment mortgage and upkeep of a £740,000 house. He is on a significantly higher salary than I am (it’s more than double mine, and likely to increase in the next couple of months). He has therefore been able to save much more than I have so I am only going to be able to contribute about £20,000 while he – with help from his parents – will have £100,000 to put towards the deposit and the stamp duty. I don’t need or particularly want to live in a £740,000 house but I don’t have a lot of choice as he is being very inflexible in terms of location.He has suggested we create some sort of legal document before buying a property, declaring that in the event we sell the house, he would get back the percentage that he put in. He has also suggested that I pay a higher percentage of the mortgage repayments, as he will be putting in more of the deposit. Continue reading…
Source : theguardian.com
Read more…I’m buying a house with my boyfriend – how much should we pay each?
