(I didn't think I'd get a good response in GD, so hopefully there's some mathematicians in this forum too that can help!) lol
Ok, so my partner and I are buying our place as tenants in common as we are not married, but are putting in quite different amounts into the deposit. Having thought we'd sorted all of our sums we're now unsure if we can simply say person A gets X% and person B gets Y% as the solicitor has simply requested. Not sure the maths works as although the deposit amounts are quite different, the mortgage will be split 50/50.
So, changing all the numbers involved to save blushes, let's say for example we're putting down a 30% deposit which is split 75/25% between us. The mortgage and any overpayments will be paid 50/50.
In other words;
For the first 30% of the price of the property, person A receives 75% and person B receives 25%. For the remaining 70% of the property, this is split 50/50.
My question is; is it possible to turn that statement into a single percentage each? I don't think it can be done, but I failed maths A levels twice lol
Thanks!
Ok, so my partner and I are buying our place as tenants in common as we are not married, but are putting in quite different amounts into the deposit. Having thought we'd sorted all of our sums we're now unsure if we can simply say person A gets X% and person B gets Y% as the solicitor has simply requested. Not sure the maths works as although the deposit amounts are quite different, the mortgage will be split 50/50.
So, changing all the numbers involved to save blushes, let's say for example we're putting down a 30% deposit which is split 75/25% between us. The mortgage and any overpayments will be paid 50/50.
In other words;
For the first 30% of the price of the property, person A receives 75% and person B receives 25%. For the remaining 70% of the property, this is split 50/50.
My question is; is it possible to turn that statement into a single percentage each? I don't think it can be done, but I failed maths A levels twice lol
Thanks!