Domestic Nightmare finance dilemma!!!

sparkie400

Hi all,
just venting some frustration and maybe will get some advice/views in return.
I am currently living with my ex-partner ( not married ) we bought our home in june 04 for approx £215000 inc fees ect, both depositing £65K each into the purchase and took mortgage of £82.5k at the solicitors we agreed tenents in common 50/50, that we both contribute equally to mortgage and all other bills etc would be split %wise relating to our incomes, ie my income is twice hers so pay more towards bils, Fair? anyway we arenow not a couple but still share a home at present, not ideal but well, you know how the market is at mo, within a few months of moving in my partner decided she was no longer paying towards the mortgage/bills and it was my duty to keep her, mmm i didnt agree but thats how things went, as you do in relationships, 6mths ago i came home to be told she no longer wanted to be with me, and she wanted me to buy her out and that she needed minimum £100K, WOW! to buy her own home, now over the shock and acceptin were no longer an item, im trying to negotiate a settlement,, i thought no way to 100K and had home valued by 3 agents, the avg value being about 240K but know i may not be offerd this, this would leave approx £150 equity, also in meantime as were no longer an item, ive asked her to start contributing to mortgage/housing costs but she refuses, saying she needs to save, is she not liable as joint mortgagee to contribute? can i claim the cost of paying her share back from sale proceeds or use to lower my costs if i decide to keep house, she pays for nothing at present, her mobile is on my contract and she uses my car.
Am i just a mug, any helful advice?????

mystic_trev

You could start by cutting off her phone, taking her car keys and make her use the Bus! It sounds like she's used you and now's going to abuse you!

Next find a good Solicitor.

Hope it works out.

neas

I'd give her original equity back and call it quits... you've been paying the mortgage!.

geoffky

Tell her if she does not stop playing games you will find the most expensive solicitor and barrister you can find and blow all the equity on legal fees..she might see sense

mrs_deadline

Can you lay your hands on 100k or even 65k without selling up?

GDB2222

As Mrs D says, can you afford to buy her out and pay the increased mortgage out of your income?

If not, surely the sooner the house goes up for sale, the better, in a falling market? In any case, it's very hard to determine a fair price in today's market, so simply selling the place is the fairest way of doing it. Although you might be happy to stay on in the house, you may one day meet a new Mrs Sparkie, and you can bet your boots that she won't want to live in the house that your ex chose, furnished, decorated, etc.

I'm not sure what you should do about your partner's failing to pay her share of the bills. If you go to court to argue it out, this could take months, and the expenses plus the fall in the house's value during that time could exceed the amount you are arguing about.

Debt_Free_Chick

Your first hurdle is that the title deeds state that the property is owned 50/50 so, effectively, she's entitled to half the equity.

Having said that, you can demonstrate that she has not contributed and you may, therefore, get a bigger share of the equity.

But you really need a solicitor to sort this out. Find one locally that specialises in family law.

sparkie400

hi, and thanks could probably do the 65K, but my feelings are telling me that woulnt be the end of it! the house contents an the car which just cost me 12k would be next, if i can get an agreement via my solicitor it might be an option, her attitude is 'whats yours is mine and whats mines my own'

sparkie400

thanks GBD222 i take on board all you say! i thnk i will sell and move on, ill see what offers come in if any! then if i still want to stay ill make an offer based on what she would get if sold, if shes not happy will go through with the sale, until that happens i need to get some coin off her,, regards, and the new mrs sparkie comment made me laugh! cheers

fatpig_2

mystic_trev wrote: »

You could start by cutting off her phone, taking her car keys and make her use the Bus! It sounds like she's used you and now's going to abuse you!

.

Hide her shoe collection somewhere. She'll cave in quickly enough .

Debt_Free_Chick

sparkie400 wrote: »

hi, and thanks could probably do the 65K, but my feelings are telling me that woulnt be the end of it! the house contents an the car which just cost me 12k would be next, if i can get an agreement via my solicitor it might be an option, her attitude is 'whats yours is mine and whats mines my own'

What's yours is yours. What's hers is hers. Who they belong to depends on who paid for them.

If there are joint possessions, bought jointly, they need to be sorted out between you.