My fiance and I are both men in our early 30s. He bought a flat in Melbourne a couple years ago. I plan to move in and we'll get married in early 2022. We'd like to own the flat together, but also want to keep some of our finances separate.
What does that entail in practice?
I assume it should wait until I find a job, so I'm a more attractive lender. Is that correct?
He's paid about A$100k (down payment + mortgage repayments); I haven't paid anything. We should end up contributing the same amount, right?
How do I catch up? Do I just, like, make a massive first payment from all my savings? Is that a violation of the "no consideration" clause for exemption from stamp duty?
What happens to interest?
I'm interested in:
- what's legal (obviously)
- what's fair to both of us
- what's usually done
Submitted October 05, 2021 at 06:52AM by Odd_Postal_Weight https://ift.tt/3a6VoT4
