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Starting the co-ownership conversation

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  • Starting the co-ownership conversation

    Partner and I are considering our options in terms of home ownership
    Our personalities are similar and our incomes - we will also be able to go 50/50 on the deposit
    I'm very budget/investment orientated
    He's a little more fast and loose but also into investing
    So as much as ever - it's important we consider all the implications

    I'm wondering if anyone knows of good resources out there to start nutting out co-ownership discussions- e.g. I'd love a questionnaire we could literally go through

    This would be a first home purchase for both of us

    We will have our separate lawyers go over everything later (and I'm sure our families will weigh in on some points)

    Point being we will ultimately have a formal document but I want to us to be able to properly think the whole idea through first and be more or less on the same page before handing it over to lawyers to negotiate

    All I can see out there/find is pretty basic and limited to -

    What happens if you break up?
    What happens if someone can't make a payment?
    How will you split up payments?

    Has someone collated a list which includes some things we might not initially think of ourselves?
    Some of the out of box but perfectly possible moral questions we should consider?

    Or feel free to tell me some stories/learnings from your experience and I'll build the questionnaire I'm after!

  • #2
    Do not get a revolving credit mortgage, no matter how enticing the bank makes it sound.


    • #3
      Originally posted by RollingCloud View Post
      Do not get a revolving credit mortgage, no matter how enticing the bank makes it sound.
      In case of relationship break up? If you're disciplined with money and keep it locked down so only you can access it, they are brilliant.


      • #4
        Are you over thinking things?

        I presume you have been together more than 3 years.

        If your assets are the same, your incomes are the same, what is the issue? Normally you would have a pre-nup/relationship property agreement if your assets were uneven.

        NOTE - I'm not a lawyer and I suggest you meet with one to give you relationship property advice

        Book a free chat here
        Ross Barnett - Property Accountant


        • #5
          Property sharing agreement setting out ways to dispose of the property if one of the two want to sell up.

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