Buying a property - together or not?

Hi,


Wondering if you could give me a bit of advise. My hubby and I have only been married for just over 1 year, but been together for the past 5 years. My husband currently owns a flat in HK, which he bought while we were dating.


Now we are looking at a bigger place, as will be welcoming our first baby in the summer. We have found a potential property, but my husband only wants to put his name of the paperwork. This is not really an option for me, as if he would run off with a younger model, I would be in a less favorable position financially. He seems to think it is fine and hadn't even considered putting my name on there, as we are staying together for ever (of course I am of that opionion too, but people/relationships change for the worse sometimes).


The thing is that he is making a lot more money that me, so I would never be able to afford paying my half share of such a large mortgage.


He seems to think it is "normal" only to put one name on the house and in a worst case scenario I would still be entitled to half of what he owns. He also thinks that I'm being insecure about our relationship by suggesting this. I think on the other hand that it is normal to put BOTH names on the house and it has nothing to do with insecurity, but more about common sense.


Would really appreciate your comments and what is "normal" in this kind of situation.


Thank you

Alice

Your name should be on it for security purposes. Will you be chipping in whatever you can afford toward the mortgage? if so, your name should definitely be on it, but more so for security reasons since you are having a child together.


I say this because having the title under both your names will just give you more security about the future in case he no longer wants to stay by your side for whatever reasons, then at least you will have a place to live with your child.

Get your name on the deeds. I have just gone through a divorce and unbeknown to me my ex husband had ensured only his name was on the house. It has cost me a fortune and 12 months later I am still fighting in court for my share. I dont wish to be the voice of doom and gloom as this clearly is not a situation you are in but you should absolutely make sure you are protected and secure for any future situation that may arise.


Rachel

Thank you both for your replies.

We basically share all expenses now, ie we don't really keep track of who is paying what, but we each just pay whatever we can (so I'm obviously paying less than him). I will be spending whatever savings I have as well on the new house.


Sorry to hear about your situation, Rachel. I think I have convinced him that both names should go on there and that it is not a question of whether I trust him or not.


Thanks again