Domestic Nightmare finance dilemma!!!

poppysarah

Not married. A lot less obligation to fund her life.

You're going to have to stand up for yourself - she can't have everything she had when she was with you. That makes sense to you doesn't it?

pinkshoes

No offense (as you obviously liked her once upon a time), but your ex sounds seriously dumb and has blatantly used you.

I'd offer her the £65k that she initially put in, and if she kicks up a fuss, point out that to be entitled to any more, she'd have to prove that she's paid half the mortgage, which she can't prove as she didn't pay half.

If the EAs have valued it at £240k, then depending on where you live, offers are likely to be 20% below this in the current market, so £216k, hence there would be no extra equity to pay her.

Running_Horse

One useful lesson in life; never interfere in someone else's divorce/separation, and never believe just one side of the story. I hope you sort things out like mature adults.

GDB2222

pinkshoes wrote: »

No offense (as you obviously liked her once upon a time), but your ex sounds seriously dumb and has blatantly used you.

I'd offer her the £65k that she initially put in, and if she kicks up a fuss, point out that to be entitled to any more, she'd have to prove that she's paid half the mortgage, which she can't prove as she didn't pay half.

If the EAs have valued it at £240k, then depending on where you live, offers are likely to be 20% below this in the current market, so £216k, hence there would be no extra equity to pay her.

I am not a lawyer, but I think that a court would start from 50% of the present equity in the property, then deduct any mortgage payments your ex has promised but missed paying. Whether that comes out at £65k is anyone's guess.

I am fairly sure that the court cannot order you to pay this compensation and take over your ex's share of the property. The position generally with shared properties where one party wants to get out is that the court can order a sale of the property.

£240k less 20% is £192k, by the way. I am not sure whether Pink meant 10%? In any case, it obviously depends on how realistically the EAs have valued the place.

gggareth

Hmmmm,
i would suggest you need a new patio in the back garden.......

devon_guy

Whoever said "If it's got pistons or tits it's going to be expensive" was clearly right!

sparkie400

fatpig ,, you are probably right she be the only person i know who gets a christmas card from 'all the staff at next' !!

Generali

Get yourself a decent lawyer. If you want a bit of preliminary help you could try the CAB.

Defnitely stop paying a penny towards her lifestyle though! Also, I'd separate my finances from hers too if I were you.

lotto-dreamer

you definitely need legal advice.

If you own the property as tenants in common in equal shares you are both 'severally and jointly' liable for the mortgage -and as it stands, the equity split would be 50/50. As you are not married, the legal implications of who has contributed what are not necessarily the same as if you were.

Just a word of caution -having seen a similar scenario at work recently - one of the couple ran up substantial debts so that a creditor took out a charging order against the property. The creditor would not give permission to discharge the additional charge over the property (which held up exchange of contracts) until the undertaking was forthcoming. The split therefore was not 50/50 and the bulk of the equity went to settle the debt of the one partner who actually had contributed the least.

There are a lot of potential issues - get legal advice quickly (preferably from a solicitor specialising in family law).

Natty082

GDB2222 wrote: »

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.
.

Completley agree with this statement - anyone new you see will always see it as 'yours and her home'.... been there done that!

Go straight to a solicitor before it gets really nasty - it will drag on for months if you don't.

Stop her using your car, and tell her to get her own mobile contract. If she wants to be on her own then let her live in the big wide world of paying bills! I assume the bills are in your name at the moment?

Sell up and make a fresh start away from the bad memories.