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    • chelseablue
    • By chelseablue 17th Oct 16, 11:52 AM
    • 1,809Posts
    • 2,276Thanks
    Buying someone out?
    • #1
    • 17th Oct 16, 11:52 AM
    Buying someone out? 17th Oct 16 at 11:52 AM
    Not that it matters to anyone on here but this situation isn't actually happening to me I was having a discussion yesterday with my cousin

    If me and my partner were to split up, how do I work out how much he would be entitled to if I were to buy him out?

    We have a trust deed saying we own the house 70% me and 30% him

    He put in £6,000 deposit and since we bought it the value has risen approx. £28,000 (according to the Nationwide hpi calculator)
    Baby Boy born May 2014

    Mortgage starting balance Feb 2016 £231,294
    Savings £11,500

    Save 12k in 2016 Challenge - Member #36
Page 2
    • chelseablue
    • By chelseablue 17th Oct 16, 12:54 PM
    • 1,809 Posts
    • 2,276 Thanks
    After point 3 it carries on to a new section called 'Right of pre-emption'
    Baby Boy born May 2014

    Mortgage starting balance Feb 2016 £231,294
    Savings £11,500

    Save 12k in 2016 Challenge - Member #36
    • gettingtheresometime
    • By gettingtheresometime 17th Oct 16, 1:33 PM
    • 1,547 Posts
    • 3,190 Thanks
    I would have thought it was quite simple.

    If there's £170K worth of equity in the house you each get what you put in.

    If there's more then you get what you each put in and then anything over and above £170K is split in the ratio the house is held in (ie 70/30)

    If its less then you split the equity as per the same ratio ie (70/30)

    However where I don't think that this arrangement is entirely fair is the fact the mortgage payments are 50/50. If you are getting 70% of the equity then to make it completely fair you should be paying 70% of the mortgage
    Lloyds OD / Natwest OD / PO CC cleared thanks to the 1 debt v 100 day challenge
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