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Ask Clare Your Own Question
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34906
Experience:  I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
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I have been happily married for a year. We are looking at

Customer Question

I have been happily married for a year. We are looking at purchasing our first home together (neither of us own currently). I have about £280k savings, my wife only about £3k. We are looking at a property of £250k, with me putting down £150k in savings and us taking a joint £100k mortgage.

Whilst of course I absolutely hope my marriage lasts forever, I am interested to know whether as I am putting all of the deposit down, if it is possible and worth considering to structure it to add some protection in the event we ever split up. e.g. 2nd charge for the deposit as a loan, or split the equity?

As we are married, I would like to know if there are realistic options such as this worth considering?
Submitted: 4 years ago.
Category: Family Law
Expert:  Clare replied 4 years ago.
Thank you for your question.
I shall do my best to assist you but I need some further information first.
May I ask how old you both are?
Customer: replied 4 years ago.

I am 39, my wife is 31

Expert:  Clare replied 4 years ago.
The Family Court has wide powers to redistribute matrimonial assets in any way that they consider fair in all the circumstances
This means that whilst you can make various arrangements to hold the property in unequal shares this will not necessarily survive contested divorce proceedings - especially if the marriage lasts for some years or there are eventually children involved.
The most effective option is to consider a Post Nuptial Agreement regarding the ownership of the house.
Whilst this is not a guaranteed result if you are both separately legally advised there is a good chance that a Court would respect it
You can read more here
I hope that this is of assistance - please ask if you need further clarification