Property News · June 9, 2016

I'm helping my son buy a house – how do I stop his girlfriend taking half if they split up?


My friend advises me to register an interest in the money I’m giving him, but the solicitor doesn’t seem keenQ I’ve got some money in savings that I want to use to help my son buy his first house. The house he has found is valued at £210,000 and he has an agreed mortgage of £168,000. It is my intention to give him the remaining £42,000 as a deposit, plus a little extra for fees.A friend has worried me by saying that, should my son and his girlfriend split, she would be entitled to half of everything – so, £21,000 of my hard-saved cash. He said that I need to register an interest in this money so that it will be exempt from her share of the house. It seems a bit harsh, but then again, if she is only contributing to the mortgage and not the deposit I think this only fair. The solicitor doesn’t seem keen on this. Is this sound advice? Continue reading…

Source : theguardian.com
Read more…I’m helping my son buy a house – how do I stop his girlfriend taking half if they split up?

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