my husband wants to buy me out of house.help needed

londonloz

Hi,
My husband has decided to buy me out of our house after he confessed to numerous affairs since we married less than two years before.
He is refusing to answer my solicitor who has suggested a clean break financially so I am having to discuss finances with him
We have a house valued at £220,000. We have a mortgage for £100,000. I am currently living in the house and we continue to pay half of the mortgage and bills.
He is offering me £40,000 for my share, this does not seem fair. He says that this is because of the stamp duty that he will have to pay. Does anyone know if this is correct?
I would appreciate some help with this, all very stressful. Does not help that I emailed my solictor with one question and was charged £14 and was not even given a proper reply.
Many thanks

Susan_Frost

Half of £120,000 equity is £60,000 so hang out for that.

Dont forget, you will incur costs if buying another house. Lots of contents like carpets and curtains, and other fittings are unlikely to be taken by you, but you will still need them in your new home.

Straight 50 - 50 should be the deal.

Change your solicitor if not happy.

neneromanova

have you got any kids with him?

londonloz

No. Just a cat that has not come up in arguments YET!

BitterAndTwisted

Why don't you offer to buy him out for £40k and see what he says?

Ivrytwr3

change solicitors!

or

Speak to your husband and tell him you will fight him on everything and you would rather any profit be swallowed up solictor fees then be unfairly dictated to. If he doesn't want that, tell him what an EQUAL share actually is.

neneromanova

I would want more than 60 to be honest. The fact that he cheated on you is horrible. Especially after not even 2 years! I don't know anything about the stamp duty, but I don't think he will have to pay anything as all he will do is just change the mortgage. Can he even get £160k mortgage to pay you back? If he can't then you both need to sell the house.

dmg24

Who valued the house, and when was this valuation done?

notsayingaword

Stamp duty isn't payable on a remortgage, only on a purchase, so he can't use that argument. If he is talking about a new purchase then you could argue that you would have the same problem when you come to buy a new house. If he's looking to buy another property at the same price band then stamp duty is 1% up to £250k so only around £2500 which still leaves you out of pocket.

londonloz

Funnily enough I did, and he said No!

BitterAndTwisted

Well, of course he did. The bloke is being an !!!!! and he knows it. If he doesn't want to come up with a sensible offer, then propose the house is sold and you split what's left between you 50/50