Buying a property alone and including my partner later on

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aquatic

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Hi everyone,

Me and my partner want to buy a house in Dublin. He is moving back here in next 3-6 months, and since he is not a resident, I would take the mortgage by myself, and what's the cheapest and most efficient way to include him later on?
Is it to sell him half of the apartment when he comes, to refinance the property with both of us included in the mortgage and he buys out the downpayment from me or something else?


Many thanks!
 
OK, that's definitely on the table, can you just please elaborate in more details how would that help here with him owning half of the property while also paying for it :D.
 
aquatic said:
him owning half of the property
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If you marry basically the home cannot be sold by you from under him so he’s effectively the co-owner.

He would not appear on the mortgage but that’s not really relevant. The debt is still the debt.

aquatic said:
while also paying for it
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That’s up to the two of you to arrange your financial lives.

Remember gifts between spouses are tax free. Gifts between strangers in law (which you are now) may accrue CAT.
 
aquatic said:
since he is not a resident, I would take the mortgage by myself, and what's the cheapest and most efficient way to include him later on?
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Are you sure that you cannot buy a property together now with a joint mortgage?

Do banks just refuse to lend to non-residents even if one partner is resident?

Or is it because you wouldn't qualify for some of the schemes?

Say you buy now on your own for €400k with a €300k mortgage.

To get it into his name after a year, you would need to sell him half the house. If the value has risen to €500k and you sell it to him half for €200k, you are giving him a gift of €50k and he would have a CAT liability.

If you wait until you get married and sell him half the house, this liability disappears.
 
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