UK Landlord Forum / Life

Hi, i need some advice, i have owned my property for 10years, i bought it for 250k and currently have 100k outstanding as a mortgage. The house has recently been valued at 400k. My partner and i get married in october and we are trying to work out how much he should invest to make us equal partners in the property.  We are at a loss on how to do this fairly, can anyone give me some advice on the best way to do this  i would be really grateful as financial matters can lead to friction which we do not want. Last point really would be on the legal side as we are getting married is there any need to get any action taken confirmed in writing by a solicitor or by being married, does this give my partner an equal share of our home regardless, we will obviously have a new will drawn up but didn't know where we stood legally once we were married , thank you for any advice your able to give

Just by getting married doesn't automatically mean he gets half.

If he moves in to your house, on marriage you have £300k equity in the house. Its that simple.

The point really is that once you are married you do share everything, unless he is unwilling to do this.

If you are concerned, cheapest thing is that you just both produce a statement of assets and liabilities on marrying, you then produce a "heads of agreement" letter which dictates the way you wish these assets to be treated in the event of Divorce or Death. Both sign and date it.

Say you have net assets of £500k, and he has assets of £250k, then in the event of divorce you split your assets if greater than £750 k, as £500k to you, £250k to him, with any surplus being shared equally, if less than £750k, split in the ratio 2:1 in your favor.

Or what ever the numbers are.

This is not a legal document, or in any way a Pre -nup, but it is an indication of what you agree at this time, which is sometimes found directional in court and in any event if everything is happy you dont need to discuss it.

Also if you are asking the question then I would also hide money in an account he knows nothing about! Lol.