How Much Should I Aim For?

aliadds

Yes it probably is a quite high rate. We took out a 5 yr fixed rate in Feb 2006 when we bought the house. As i said he's happy not to take out any money, but i also don't think he'd want to be involved with a new mortgage.

pinkshoes

If you're paying the interest only on the mortgage, then although your ex hasn't contributed anything since he left, you haven't actually paid off any equity.

I would go for a 50-50 split, so if there's £75k equity, then £37,500 each.

There is no way you can get a mortgage on your own, as your salary is too low, so to buy your ex out (£35k - there will be some costs involved, and he should pay half), then you would have to convince your son to buy with you.

The other (easier) option would be to sell, then split any profit after costs 50-50.

Look on https://www.houseprices.co.uk and see what similar properties in your area have sold for recently, to see what realistically you could get.

Although you don't want to lose your home, could you not look at it as a fresh start?

TighterThanTwoCoatsOfPain

zenmaster wrote: »

That seems a lot on an £85k mortgage. I'm currently paying less than half that on £98k.

Are you tied into your current mortgage? Would your ex be willing to help you switch if necessary? If so it might be worth looking around.

Its not alot in the slightest... might be wrong but its about 5.15%.

You must have a cracking tracker.. certainly not one you could get today.