seeking advice for sister and her boyfriend buying house

U

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Hi,

my younger sister is buying a house with her boyfriend.

she has borrowed the money for the deposit and has mortgage aproval.They have agreement that the boyfriend will cover the mortgage for the first 18months while she plans to pay back the deposit over 5 years. I'm not sure of the figures involved.

Both their names will be on the mortgage, is their anything else they should do now to clarify things in the event of a split in the future?

i''m advising that they put everything in writing ...figures for deposit.. who is paying etc. Should this be done through a solicitor?

big brother here just wants them not to end up in a financial mess if they do go their seperate ways .. which prob won't happen anyway.

any advice or info would be gratefully received.

Thanks.
dave.
 
The Bank May Not Give Them The Mortgage If They See She Has Drawn Down A Loan For Their Deposit
 
they really should try to go 50/50 on everything. any other option could be a recipe for disaster
 
Thanks for the link and comments . .that's exactly what i was looking for.

Dave
 
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