Splitting up - my house deposit?

pixie99

Hi all

Looking for some advice please. I'm a long time MSE'er but have posted under an alias due to the sensative nature of the post and friends/relatives knowing my usual MSE name.

Me and my partner are going thru a rocky patch and I'd like to know where I stand legally.

We bought our house as joint tenants 12 years ago for £56,000.

I paid £9k deposit and he didn't pay anything. (therefore approx 16% deposit).We both work fulltime and have one child now at uni. I earn slightly more than him. I pay all the bills and he gives me 'housekeeping', he's hopeless with money and wasn't paying bills on time so this is the only way I could sleep at night.

For the majority of the 12 years our household bills/mortgage and food are about £1000, he contributes £300 a month and I pay £700 a month. The house is now worth about £180,000 and there's £32k left to pay on the mortgage.

We have spoken about splitting up and I said I should get back my deposit of 16% (now worth about £28k) and then pay off the mortgage and split the rest equallly, he said no to this. I then said I should get back the £9k deposit at least and he said no. He says legally we both should have equal shares in the house after paying back the mortgage.

Is this right, I've got a sinking feeling that becuase nothing was in writing my deposit and larger mortgage payments don't count for anything:( .

Please can anyone shed any light on this matter?
Thanks all
pixie

Debt_Free_Chick

Assuming you have no other papers to show who owns what, then it's all up for negotiation. This will be the case if you can't agree and have to resort to solicitors and/or mediation.

If you can show you paid more, then you can negotiate to get more than 50%.

If it were me, I'd be going for 16% back to cover my deposit and then splitting the remaining equity 70/30. Just going for 16% to cover your deposit is generous as it ignores the fact that you've paid more than 50% of the remaining cost(s)

socrates

Even though - I am a guy - he is not being fair.

Firstly can you show proof that you put the deposit down - that would help.

I would go for a 70/30 split to perhaps end up at 60/40 - in your favour.

Alternatively tell him the bit you are arguing about can go in a trust for your child - that way the person who really matters in all this gets the benefit. It is after all their birthright.

If he digs his heels in about the last bit you know he is going to be awkward anyway so go full steam ahead with mediation.

Remember - "right is might" and do not let emotions cloud your judgements - stick to the business in hand.

Robert_Sterling_3

socrates wrote: »

Even though - I am a guy - he is not being fair.

Why should he be fair because you are a guy.
..................................................................

The OP should get 16%+42% at first sight.

I am not sure about the 70:30 split

Fortheloveofmoney

I don't think what he earns and contributes should matter but I do believe you should get back your original deposit. People bring different things to relationships besides income and if you share your life with someone then you do just that. I would go for a 50/50 split after deducting your £9k deposit.

socrates

Fortheloveofmoney wrote: »

I don't think what he earns and contributes should matter but I do believe you should get back your original deposit. People bring different things to relationships besides income and if you share your life with someone then you do just that. I would go for a 50/50 split after deducting your £9k deposit.

£9k does not have the same value today as it did then. They do not contribute the same amount of money. If it was the other way round I would be arguing his corner especially as the child is grown up.

socrates

Robert_Sterling wrote: »

Why should he be fair because you are a guy.
..................................................................

The OP should get 16%+42% at first sight.

I am not sure about the 70:30 split

You know exactly what I meant you pedantic so and so!

Fortheloveofmoney

socrates wrote: »

£9k does not have the same value today as it did then. They do not contribute the same amount of money. If it was the other way round I would be arguing his corner especially as the child is grown up.

This is true but I believe this to be fair split. As I said, you share your life with someone which is about far more than money.

What would happen if the husband/partner hadn't worked due to bringing up the child. In this case they won't have contributed anything financially so does that mean they shouldn't be entitled to half the house they helped make a home?

And no before anyone says it, I'm not Heather Mills.....;)

LandyAndy

When the current MrsLA and I bought our first house 20 years ago I put in £40,000 she put in nothing. If we split up now I wouldn't dream of splitting things any other way than 50:50.:confused:

housesitter

socrates wrote: »

It is after all their birthright.

Really?
So I should expect an inheritence when my folks die, rather than be happy that they spend their money on their lives now I'm an adult and they have no further responsibility to spoon feed me.

Strike out, make your own place in the world. :rolleyes:

Debt_Free_Chick

Fortheloveofmoney wrote: »

This is true but I believe this to be fair split. As I said, you share your life with someone which is about far more than money.

In my very own sad and scarred experience, this is only true up to the point you break up - then it's all about money and possessions.