FAQs

We know buying together can get complicated. Especially when you’re bringing different deposits to the party and may be contributing unequally over time.

We can help you navigate the home-buying journey with ease – from ‘getting on the ladder’ guides, to connecting you with deeply experienced brokers and lawyers.

Once you are owning, our simple and unique platform will enable you to protect your individual equity in a jointly owned home. And let you know when you’re got enough funds to buy your next home, or buy your co-owners out.

Yes! We can help you consider your options and build a plan to get you on the ladder as soon as possible.

Specifically, we can help you explore what you might be able to afford if you team up with others and how it would work. The earlier you speak to us the better.

Yes! You can start tracking with MaryR (and make it legally binding) even after you’ve moved in. Just make sure you have the details of who has contributed what so far.

A lot of our users do this and it can be particularly helpful to use MaryR if you are planning to bring someone new in as a homeowner (like a partner).

We calculate shares based on contributions made to the home. The bigger your contribution to the home, the more of it you own. We think contributions made earlier should have a bit more value than those that come later so we use a compound interest approach.

If you want to know more, send us an email at hello@maryr.co

Any payments recorded in MaryR impact how the equity is split amongst co-owners.

It is up to you, the co-owners, to decide what impacts your equity. Most people record their deposit and mortgage repayments as a start, but many also include major repairs and renovations. We’ve provided a suggested list but it’s up to you to decide what should impact equity.

Remember – every payment recorded needs to be approved by all the co-owners to ensure it is a true and agreed record of what’s been contributed.

To add more details about your mortgage and make sure MaryR accurately reflects your ownership share, follow these steps:

Go to Payments
⬇️
Regular Payments
⬇️
New Regular Payment
⬇️
Mortgage

If this still doesn’t work, drop us a line at hello@maryr.co.

Bear with us, we’re working on making this feature better asap!

The MaryR platform has been developed specifically to be compatible with standard home-owning legal arrangements. Making MaryR a legally binding reference point for your shares ensures you formally protect your individual interests in a jointly owned home.

To do this, you will need to…

1. Own the home as ‘Tenants in Common’ – this allows you to own shares unequally in a property, and this will need to be logged at the Land Registry.

2. Put a MaryR Deed of Trust in place – a legal document that lays out how the shares in the home are calculated and references MaryR as the location where this information is held.

3. Actively engage with MaryR – given shares are based on contributions made to the home, it is in your interests to ensure the information in the platform is as up to date as possible.

If you are in the process of buying your home… you will want to ensure your chosen lawyer understands and implements the process above. If you have not yet chosen a lawyer, we can put you in touch with one who is familiar with MaryR.

If you have already bought your home… depending on how you have selected to own your home you should easily be able to put in place a MaryR Deed of Trust. If you are adding a new co-owner or changing how your ownership is logged at the Land Registry (ie. from ‘Joint Tenants’ to ‘Tenants in Common’) you may need to check with your mortgage provider that this is ok.

Get in touch with us at hello@maryr.co and we can guide you through the next steps.

We obviously hope that doesn’t happen! However, if we fold – you’re covered.

We will provide you with a hard copy of our algorithm and all your contributions. Your Deed of Trust will remain valid and you can decide whether to continue tracking your shares our way or come up with something different.

Protecting your data is the most important thing to us. MaryR has been built using a modern web application development framework which includes features and components to maintain a highly secure product as follows:

• Authentication & Authorisation. The platform uses a number of security components to manage both authentication and authorization. The principle of least privilege is applied throughout which ensures users only have access to the resources they need.

• Encryption. The web application enforces industry-standard SSL encryption for all connections. The database connections are also encrypted and data is encrypted at rest.

• Vulnerability Management. The codebase is constantly monitored for known security vulnerabilities and patches are applied in a timely manner. The application and database infrastructure run on a managed PaaS who monitor and patch vulnerabilities on behalf of their clients

You can read more about how we treat your data at our Terms and Conditions and Privacy Policy.

Equity in a home is the total value of the property, minus the mortgage. If you were to sell tomorrow, it would be the cash you walk away with

In the MaryR platform, we protect and track your individual equity. We base your individual value on all the contributions you’ve made to the home (with some added value attached to any contributions made early on), minus the outstanding mortgage.

When MaryR refers to the growth of your share, we are referring to how your share has grown since you invested it in the home. It takes into consideration the current value of the home and the ‘interest’ which is applied to each contribution (to ensure earlier contributions are valued more).

Usually the growth will show as a negative number in the early months after purchasing a home as the value has not yet had time to increased, and you have incurred some costs such as arrangement fees. The growth to correct itself after a few months of ownership.

A property’s value is ultimately whatever someone is willing to pay for it. In the MaryR platform, we do our best to give you an accurate estimate of what it could be.

We use the Government’s House Price Index (HPI) to calculate the latest value of your property. If you’re feeling confident about the market, you can pick a value a little above this estimate – or if you’re feeling risk averse, go below it.

Also known as a Declaration of Trust, a Deed of Trust is a legally binding document stating the division of ownership of a property. It is used by those owning as ‘Tenants in Common’ to record how the property is owned.

This is a way of owning a home, recorded with the Land Registry, that allows the owners to own in unequal shares.