Prenups And House Buying Legal Agreements?

[DonaldDuck92]

Just about to buy my first home with my partner. It's an exciting time but we are both in different financial positions.

I am putting down 100% of the deposit and will be paying 70%-80% of the mortgage.

It's likely we'll get engaged next year.

I've debated in my head whether some sort of prenup legal agreement is sensible (seems unromantic).

What type of agreements can be put in place? What is pragmatic and sensible and how do you go about it?

Looking for guidance and practical advice please.

[barry1010]

Buy the property as tenants in common, and decide well in advance how you are going to divide the shares, such as 70/30; 60/40 or whatever you both think appropriate.
Legally watertight.

[barry1010]

Explained very well here
https://theprogenygroup.com/blog/couples-buying-property-joint-tenants-or-tenants-in-common/#:~:text=property%20is%20theirs.-,Under%20joint%20tenancy%2C%20both%20partners%20jointly%20own%20the%20whole%20property,this%20out%20in%20their%20will.

[Buenchico]

This might be helpful:
https://www.graysons.co.uk/advice/prenuptial-agreements
(In particular, note Section 8).

However an alternative (and possibly simpler) path to go down might be buy the property as 'tenants in common', rather than as 'joint tenants'. Then you could, for example, have an arrangement whereby you'll own, say, 75% of the property, with your spouse owning the remaining 25%.

[murraymints]

yer mad ! get legal protection as a matter of urgency..I speak from experience...

[Peter Pedant]

you need to decide who owns what.
I like proportions - so if you put down 10k on 100k ( hem hem as an example) then you have 10%

THEN you have to decide about the mortgage repayments
if you pau half and half then obviously 45% is your and 45% is the other half

and bills

and fixed expenses like council tax. - so that suddenly half the council tax is worth 10% of a mortgage repayment. ( giving an extra share in the house see)

I have witnessed two split ups ( one where I put up part of the deposit ) and it is amazing what people find to quarrel about. One decided their mortgage repayments ( all ) was a suitable pay off.