Buying property with partner with mortgage in one name only

J-Denise | 06:58 Sun 06th Jun 2010 | Personal Finance

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My partner and I currently have separate houses, his is rented out and I live in mine. We want to pool our resources and buy together but I want (and can afford) to be mortgage free whereas he needs a mortgage on his half of the property because he wants to keep his rented property as an investment. We're currently looking at how he can raise the bulk of his half by cashing in endowments and increasing his other mortgage but, to get the house we want, he will still be short.
I don't want to be liable or lose my home if he defaults on the mortgage or we split up but understand that building societies wont lend against half the property - understandably.
Does anyone have any experience/advice on how I can protect myself. I would also like to ensure that either of us could continue to live in the house if the other died, but that after we're both gone the proceeds will be split and and go as we each direct in our wills. We don't have children together and I don't want his to inherit anything from me!

Tax credit and CSA

I am owed money by the Taxman, a lot of money and 6 months down the line they have still not paid up. Is there anything legal that I could do to make them cough up ?

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ummmm

You can't protect the property if he defaults. You'll have to pay it if he doesn't. Although it will be his debt it'll be secured against the property.

You'll have to see a solicitor and draw up a contract regarding monies put in.

Make a will.

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