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  • FIRST POST
    • JLT79
    • By JLT79 7th Feb 18, 3:16 PM
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    JLT79
    Entitled to more as I paid the mortgage?
    • #1
    • 7th Feb 18, 3:16 PM
    Entitled to more as I paid the mortgage? 7th Feb 18 at 3:16 PM
    Myself and my ex own two properties, I live in one and have paid the repayment mortgage by myself for 19months and paid off £7.5k of the capital.
    My ex lives in our other property and pays an interest only mortgage on it.
    We are now selling both. Am I entitled to claim the £7.5k back from the capital since he has paid nothing off?
Page 1
    • Comms69
    • By Comms69 7th Feb 18, 3:22 PM
    • 2,353 Posts
    • 2,237 Thanks
    Comms69
    • #2
    • 7th Feb 18, 3:22 PM
    • #2
    • 7th Feb 18, 3:22 PM
    Myself and my ex own two properties, I live in one and have paid the repayment mortgage by myself for 19months and paid off £7.5k of the capital.
    My ex lives in our other property and pays an interest only mortgage on it.
    We are now selling both. Am I entitled to claim the £7.5k back from the capital since he has paid nothing off?
    Originally posted by JLT79
    You need to explain ALOT more.


    At present you both have properties. You are both selling. You are splitting everything 50/50?
    • JLT79
    • By JLT79 7th Feb 18, 3:59 PM
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    JLT79
    • #3
    • 7th Feb 18, 3:59 PM
    • #3
    • 7th Feb 18, 3:59 PM
    We are splitting both 50/50. We own them both 50/50.

    We split up 4 years ago, I stayed in the family home, he moved into our other property. He continued to pay half on the mortgage on the property I live in, until 19months ago when he said he wouldn!!!8217;t contribute any more and I have been paying it myself.
    He has paid the mortgage on the property he lives in by himself for the 4 years, but paid interest only.
    Do you need to know anything else?
    • Pixie5740
    • By Pixie5740 7th Feb 18, 4:01 PM
    • 11,666 Posts
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    Pixie5740
    • #4
    • 7th Feb 18, 4:01 PM
    • #4
    • 7th Feb 18, 4:01 PM
    Ex what? Ex spouse? Ex civil partner? Ex partner?

    Are there Deeds of Trust set up for either property detailing what should happen in the even of a split?
    • mariannelucy
    • By mariannelucy 7th Feb 18, 4:06 PM
    • 1 Posts
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    mariannelucy
    • #5
    • 7th Feb 18, 4:06 PM
    • #5
    • 7th Feb 18, 4:06 PM
    No, in a mortgage contract all parties are jointly liable for all payments.
    • Comms69
    • By Comms69 7th Feb 18, 4:13 PM
    • 2,353 Posts
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    Comms69
    • #6
    • 7th Feb 18, 4:13 PM
    • #6
    • 7th Feb 18, 4:13 PM
    We are splitting both 50/50. We own them both 50/50.

    We split up 4 years ago, I stayed in the family home, he moved into our other property. He continued to pay half on the mortgage on the property I live in, until 19months ago when he said he wouldn!!!8217;t contribute any more and I have been paying it myself.
    He has paid the mortgage on the property he lives in by himself for the 4 years, but paid interest only.
    Do you need to know anything else?
    Originally posted by JLT79
    Sounds like he's paid more than you.... surely 50/50 is in your benefit?
    • Comms69
    • By Comms69 7th Feb 18, 4:15 PM
    • 2,353 Posts
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    Comms69
    • #7
    • 7th Feb 18, 4:15 PM
    • #7
    • 7th Feb 18, 4:15 PM
    No, in a mortgage contract all parties are jointly liable for all payments.
    Originally posted by mariannelucy
    That isn't relevant in the slightest
    • JLT79
    • By JLT79 7th Feb 18, 4:19 PM
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    JLT79
    • #8
    • 7th Feb 18, 4:19 PM
    • #8
    • 7th Feb 18, 4:19 PM
    He is my ex partner, never married, we have two children together.
    No deed of trust, just both houses and mortgages are in our names 50:50
    • saajan_12
    • By saajan_12 7th Feb 18, 4:23 PM
    • 1,117 Posts
    • 752 Thanks
    saajan_12
    • #9
    • 7th Feb 18, 4:23 PM
    • #9
    • 7th Feb 18, 4:23 PM
    We are splitting both 50/50. We own them both 50/50.

    We split up 4 years ago, I stayed in the family home, he moved into our other property. He continued to pay half on the mortgage on the property I live in, until 19months ago when he said he wouldn!!!8217;t contribute any more and I have been paying it myself.
    He has paid the mortgage on the property he lives in by himself for the 4 years, but paid interest only.
    Do you need to know anything else?
    Originally posted by JLT79
    When you say you own them 50/50, do you mean "joint tenants" (JT) ie you both own the whole property, no shares, or you own as "tenants in common" (TIC) with a deed of trust stipulating 50% shares? Theres a difference.

    For TIC, you should follow what was agreed in the deed. For JT, the starting position is equally split the equity.

    If you want to vary an even split, you have to take into account ALL contributions including
    - initial deposit
    - initial buying costs
    - capital repayments
    - mortgage interest payments

    While you paid capital, the ex contributed half the mortgage for where you were staying for 19 months.. why weren't you covering half his?
    • Pixie5740
    • By Pixie5740 7th Feb 18, 4:26 PM
    • 11,666 Posts
    • 16,421 Thanks
    Pixie5740
    He is my ex partner, never married, we have two children together.
    No deed of trust, just both houses and mortgages are in our names 50:50
    Originally posted by JLT79
    Based on what you've said I don't think you are entitled to an extra £7,500 of the equity. In fact since he continued to pay the mortgage on a property he wasn't living in and paid the interest only mortgage by himself for a number of years I think that a 50/50 split would actually see you better off. If you start negotiating an extra £7,500 what's to stop him negotiating more equity for making more mortgage payments?
    • JLT79
    • By JLT79 7th Feb 18, 4:34 PM
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    JLT79
    Wow that’s a lot more complex than I thought then. We are joint tenants.

    He covered half of the mortgage on the property he lived in to ‘protect his interest’ as he put it. So basically he didn’t lose any of the capital if I paid it off.

    I presumed that as he had paid no equity off the other property as he paid interest only, that if he entitled to what I had paid on the house I live in
    • Pixie5740
    • By Pixie5740 7th Feb 18, 4:35 PM
    • 11,666 Posts
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    Pixie5740
    Has the second property not risen in value during the time he was paying the interest only mortgage?
    • Comms69
    • By Comms69 7th Feb 18, 4:41 PM
    • 2,353 Posts
    • 2,237 Thanks
    Comms69
    Wow that’s a lot more complex than I thought then. We are joint tenants.

    He covered half of the mortgage on the property he lived in to ‘protect his interest’ as he put it. So basically he didn’t lose any of the capital if I paid it off. - Which is exactly what you did?

    I presumed that as he had paid no equity off the other property as he paid interest only, that if he entitled to what I had paid on the house I live in
    Originally posted by JLT79


    Keep it simple: X (your property mortgage) and y (His property mortgage)


    You paid x/2, he paid x/2 + y
    • JLT79
    • By JLT79 7th Feb 18, 6:01 PM
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    JLT79
    But he hasn't been paying half of the mortgage for the past 19 months, only I have been paying it, so would that not count as my equity that I have paid off if he has not paid any off the property he lives in?
    • Tom99
    • By Tom99 8th Feb 18, 1:49 AM
    • 1,267 Posts
    • 807 Thanks
    Tom99
    But he hasn't been paying half of the mortgage for the past 19 months, only I have been paying it, so would that not count as my equity that I have paid off if he has not paid any off the property he lives in?
    Originally posted by JLT79
    How are you taking into account the 25mths he paid 50% of your mortgage and capital repayment on your house, whilst you did not pay any of his?

    If you added together all the mortgage payments over the past 4 years and worked out how much you had each paid towards that total cost what sort of answer does that give?
    • bertiewhite
    • By bertiewhite 8th Feb 18, 8:27 AM
    • 850 Posts
    • 901 Thanks
    bertiewhite
    My ex wife never paid a penny towards our house - deposit, mortgage or bills but was still entitled to half the equity.
    • getmore4less
    • By getmore4less 8th Feb 18, 9:59 AM
    • 31,381 Posts
    • 18,804 Thanks
    getmore4less
    if you entered 50:50 and paid 50:50(both properties) then at some point split changed the way you paid then you need valuations at that point and determine who owned the clear equity and who owned the equity now paid by the mortgages

    We split up 4 years ago, I stayed in the family home, he moved into our other property. He continued to pay half on the mortgage on the property I live in, until 19months ago when he said he wouldn!!!8217;t contribute any more and I have been paying it myself.
    He has paid the mortgage on the property he lives in by himself for the 4 years, but paid interest only.
    4 years ago you have the values of the houses and the mortgages on each.

    you each owned (value-mortgage)/2 of each(as a % of the value at that time).

    house 1. remained 50:50.
    house 2 you stopped paying your share of the mortgage so you still own that % ex owned the rest(less the mortgage which is now all his)

    19 months ago you each owned house 1 (value-mortgage)/2.

    he still owns that % you own the rests less all the outstanding mortgage.
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