My partner and I want to merge our assets but a high mortgage will leave me little for monthly savingsQ My partner and I have a big conundrum and wondered if you could weigh in on our issue before we take the next step. Essentially, we are looking to merge our assets and buy a home together. I own a property, where we currently live, which is worth at least £550,000 with a mortgage of £140,000. My partner recently sold his property and so has £160,000 in cash to put towards the purchase of our new home. He earns £120,000, while I earn £80,000, and we have been told that together we can get a substantially large mortgage in the region of £1.2m to £1.3m.The issue here is that while I am putting in more deposit, which will mean I own more of the property, I am concerned about a high mortgage being divided equally, leaving me with little savings after payments each month. Whereas my partner, who earns more, will have substantially more left over. AS Continue reading…
Source : theguardian.com
Read more…Should we buy a home together even though it will leave me worse off than him?
