| Anyone good at maths? 13:55 - Jun 13 with 1286 views | The_Flashing_Smile |
Or know how to work out the percentages of a Tenants in Common mortgage?!
I'm paying the deposit (10%) and a greater share of the monthly repayments (let's, for argument's sake, say I'm paying 70% and Lady Dollers is paying 30%)... but how do we put the deposit and monthly repayment figures together to work out our individual percentage ownership of the property?!
I'm a words person, no idea with maths. |  |
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| Anyone good at maths? on 13:58 - Jun 13 with 1256 views | clive_baker |
In that example, I would suggest the simplest way is to say
You:
10% + 70% of the remaining 90%
Her:
0% + 30% of the remaining 90%
Eg. £300k property:
Dolly: £30k + £189K (70% of £270k) = £219k
Her: £0k + £81k (30% of £270k) = £81k
Total: £300k |  |
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| Anyone good at maths? on 14:01 - Jun 13 with 1234 views | The_Flashing_Smile |
| Anyone good at maths? on 13:58 - Jun 13 by clive_baker |
In that example, I would suggest the simplest way is to say
You:
10% + 70% of the remaining 90%
Her:
0% + 30% of the remaining 90%
Eg. £300k property:
Dolly: £30k + £189K (70% of £270k) = £219k
Her: £0k + £81k (30% of £270k) = £81k
Total: £300k |
Cheers, that kinda makes sense! | |
| Trust the process. Trust Phil. |
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| Anyone good at maths? (n/t) on 14:03 - Jun 13 with 1214 views | BlueNomad |
| Anyone good at maths? on 14:01 - Jun 13 by The_Flashing_Smile |
Cheers, that kinda makes sense! |
Planning a separation / divorce already? [Post edited 13 Jun 2022 14:04]
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| Anyone good at maths? on 14:03 - Jun 13 with 1216 views | WeWereZombies |
| Anyone good at maths? on 13:58 - Jun 13 by clive_baker |
In that example, I would suggest the simplest way is to say
You:
10% + 70% of the remaining 90%
Her:
0% + 30% of the remaining 90%
Eg. £300k property:
Dolly: £30k + £189K (70% of £270k) = £219k
Her: £0k + £81k (30% of £270k) = £81k
Total: £300k |
And in the percentage terms that the OP asked for - 73% / 27%.
Although you may want to fine tune that with a discounted cash flow calculation if there is a significant timing difference between all the payments.
[edit] Which there is because of the 10% deposit being made at today's money value and the repayments happening later when, presumably, they will be worth less in current value terms. [Post edited 13 Jun 2022 14:06]
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| Anyone good at maths? (n/t) on 14:07 - Jun 13 with 1181 views | The_Flashing_Smile |
| Anyone good at maths? (n/t) on 14:03 - Jun 13 by BlueNomad |
Planning a separation / divorce already? [Post edited 13 Jun 2022 14:04]
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Obviously not, but it's sensible to cover yourselves legally. | |
| Trust the process. Trust Phil. |
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| Anyone good at maths? on 14:23 - Jun 13 with 1138 views | BanksterDebtSlave |
It's 50:50 you are a partnership and money is just money. She will love you all the more for your Banksy moment, you can thank me later. |  |
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| Anyone good at maths? (n/t) on 14:25 - Jun 13 with 1113 views | lowhouseblue |
| Anyone good at maths? (n/t) on 14:07 - Jun 13 by The_Flashing_Smile |
Obviously not, but it's sensible to cover yourselves legally. |
then legally speaking how you share the cost of the mortgage wouldn't be the only factor. how you share other living costs might also be considered. so, hypothetically, if you paying more of the mortgage meant you paid less of other costs that might affect the calculation of the house share percentages. only trying to be helpful. |  |
| And so as the loose-bowelled pigeon of time swoops low over the unsuspecting tourist of destiny, and the flatulent skunk of fate wanders into the air-conditioning system of eternity, I notice it's the end of the show |
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| Anyone good at maths? (n/t) on 14:39 - Jun 13 with 1067 views | clive_baker |
| Anyone good at maths? (n/t) on 14:07 - Jun 13 by The_Flashing_Smile |
Obviously not, but it's sensible to cover yourselves legally. |
You should probably also prepare yourself for the fact that, despite your 73% ownership, you'll have 0% say on where anything goes or what colour the walls are going to be. Just nod at the cheapest option and let her crack on. [Post edited 13 Jun 2022 14:40]
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| Anyone good at maths? (n/t) on 15:04 - Jun 13 with 1004 views | The_Flashing_Smile |
| Anyone good at maths? (n/t) on 14:25 - Jun 13 by lowhouseblue |
then legally speaking how you share the cost of the mortgage wouldn't be the only factor. how you share other living costs might also be considered. so, hypothetically, if you paying more of the mortgage meant you paid less of other costs that might affect the calculation of the house share percentages. only trying to be helpful. |
We share everything else equally. | |
| Trust the process. Trust Phil. |
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| Anyone good at maths? (n/t) on 15:05 - Jun 13 with 1001 views | The_Flashing_Smile |
| Anyone good at maths? (n/t) on 14:39 - Jun 13 by clive_baker |
You should probably also prepare yourself for the fact that, despite your 73% ownership, you'll have 0% say on where anything goes or what colour the walls are going to be. Just nod at the cheapest option and let her crack on. [Post edited 13 Jun 2022 14:40]
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Oh I'm fully prepared for this. I'm not even allowed a cat. | |
| Trust the process. Trust Phil. |
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| Anyone good at maths? (n/t) on 15:15 - Jun 13 with 976 views | BlueNomad |
| Anyone good at maths? (n/t) on 14:07 - Jun 13 by The_Flashing_Smile |
Obviously not, but it's sensible to cover yourselves legally. |
The age of romance! | | | |
| Anyone good at maths? (n/t) on 16:36 - Jun 13 with 908 views | factual_blue |
| Anyone good at maths? (n/t) on 14:39 - Jun 13 by clive_baker |
You should probably also prepare yourself for the fact that, despite your 73% ownership, you'll have 0% say on where anything goes or what colour the walls are going to be. Just nod at the cheapest option and let her crack on. [Post edited 13 Jun 2022 14:40]
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And of course should things go wrong (and I hope they don't) she'll want 50% of the total, plus the 30% she put in initially.
This is what's know as 'The Law Of What's Yours Is Mine, And What's Mine Is My Own'. |  |
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| Anyone good at maths? (n/t) on 17:19 - Jun 13 with 851 views | Pinewoodblue |
| Anyone good at maths? (n/t) on 15:05 - Jun 13 by The_Flashing_Smile |
Oh I'm fully prepared for this. I'm not even allowed a cat. |
No pussy.....doesn't seem a good deal. |  |
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| Anyone good at maths? (n/t) on 18:32 - Jun 13 with 794 views | The_Flashing_Smile |
| Anyone good at maths? (n/t) on 15:15 - Jun 13 by BlueNomad |
The age of romance! |
She insisted we do it that way as I'm putting most in, which is kind of romantic in itself. | |
| Trust the process. Trust Phil. |
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| Anyone good at maths? (n/t) on 18:34 - Jun 13 with 782 views | ZXBlue |
| Anyone good at maths? (n/t) on 18:32 - Jun 13 by The_Flashing_Smile |
She insisted we do it that way as I'm putting most in, which is kind of romantic in itself. |
Wont mean much if you are or will be married... |  | | |
| Anyone good at maths? (n/t) on 18:35 - Jun 13 with 779 views | The_Flashing_Smile |
| Anyone good at maths? (n/t) on 18:34 - Jun 13 by ZXBlue |
Wont mean much if you are or will be married... |
We're not. | |
| Trust the process. Trust Phil. |
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