advice needed property sale

chesca05

hi dont know if anyone can help me but i split from my ex 2 years ago now and wed bought a house togeva, trying to sort it out through solicitors but the other day she told me something i didnt agree with and need advice b4 i speak to her again. the house is now worth £70000, outstanding mortgage £40000, £30000 profit, then divided by 2 £15000 each but because my ex has paid £6000 in mortgage repayments since been living there she says i need to give hime £6000 out of my profit leaving me with9000 and him with 21000(?) i dont understnd why, surely i would only need to contribute half of what hes paid-that being £3000 then he would get £18000 and i would get 12000 and weve both paid £3000 towards mortgage-is there something im not understanding? please help £3000 is a lot of money

eileenfromplaistow

your maths seems to be better than hers! is there some other cost / legal liability that maybe she had in mind?

cattie

As you mention you are trying to sort it out through solicitors then really they are the people you should be asking & should be able to give you a definitive answer as to how much you will each be entitled to from the value/sale of the house.

chesca05

theres no other costs inolved. i know my solicitor should know what shes talking about but when i asked her why it was worked out this way on the phone she couldnt give me a proper answer and went off the subject so i'm still left in the dark and im not the sort of person to push things- so confused any good solicitors out there!!!!!!!!!!!!!!

arnie&caseysma!

I assume that since you split 2 years ago then you have been trying to sort the house for for the last 2 years? I went through the same thing and the value of the property was taken at the time of the split - not at what it stands now. My a*****le solicitor took 15 months (and me doing his job for him) to sort it out and when it was eventually done he didn't even send me a bill for payment.

Sorry I can't help you much but I wish you the very best of luck in sorting out to your satisfaction - and the law society would be very interested to hear of any complaints re solicitors and unacceptable time levels and advice.......

itsakidsworld

Its very difficult to know what you should receive as there are alot of "ifs and buts" when the property becomes sold in these situations.

If it is not to be sold then you have to reach an agreement with your ex for her to buy you out of the mortgage. If it is to be sold then again, a settlement either way has to be reached.

I feel that what you have said appears reasonable as you accept that she should have more as she has kept up the payments.

However! Other points to consider and to be honest with yourself about. Why have you not paid into the mortgage for the last two years and left it for your ex to pay? It does not matter about you splitting you still had a liability to maintain a loan. Thats all mortgages are, loans which are secured against the property and if you have not kept to that deal, then you have to favour your ex.

This is not having a go at you, but trying to get you to see the situation from another angle. If the above is correct then I honestly think you should congratulate your ex for keeping up the payments, accept your share (which would have been nothing otherwise as you yourself are technically in arrears) and move on with life.


Hope this helps you.

Good luck.

Bossyboots

On the assumption you have agreed a baseline 50/50 split of the profit, then you are absolutely correct that you should only be paying him £3,000 towards the mortgage payments. Otherwise, it will work out that in fact you will have paid all the mortgage payments and him nothing. Your solicitor may have double accounted or may simply not have the expertise or sense to work out the figures.

I am very confused by itsakidsworld's post. The OP is not disputing she should be paying a share of the mortgage payments, just that she should not in fact be refunding it all, just what would have been her share.

itsakidsworld

Sorry if you feel my posting is confusing. I don't think it is.

As I stated, if all points are correct by the OP then they are entitled to dispute what they should receive. But if they have not contributed into the mortgage for two years, the situation changes into the favour of the ex. And why shouldn't it if the ex has kept up the payments.

The OP is asking for honest advice here not sympathy. Why, if the ex has kept up the payments for two years should they be expected to lose half of what they have paid to someone who has not paid anything into the pot? If that is the case, the original poster should be happy with what they have been offered.

I did say try looking at it from a different angle.

chesca05

itsakidsworld i understand what you are trying to say but from my point of view because of what iv gone through and am still going through i feel the offer is unfair. The reason i have not paid the mortgage for the past 2 years is because my ex thew me out (physically!) and he has been living there ever since, i on the other hand have gone on to have a child and my money goes towards raising my child and providing him with everything he needs including the one bedroom we have to share because i cannot afford anything else let alone half a mortgage for somewhere im not even living.
I understand i am expected to keep up with the mortgage payments by the bank, but we have been in to speak to them and they understand i am no longer living there and my ex is making the payments as he wanted to continue to live there until this was sorted.
The point im making is that he's paid £6000 since we split, i would agree to pay him the £3000 i would have paid if i lived there as half the mortgage repayments but i don not agree that i should pay the full £6000 to him as this would mean not only am i having to pay rent for my own place bu would have paid for him to live in the house for the past 2 years!?

chesca05

ps thank you bossyboots at least someone's on my side!

itsakidsworld

Hey Chesca 5,

I never said I was not on your side nor did I say I was on the side of your ex.

I was trying to ask you to look at the situation from a different point because if you took this matter to court which you may well have to, then it is best that you are prepared for all questions.

I asked if the house was being sold or you just being paid off, but you did not reply. How long has the mortgage been in place and what are the monthly payments? Is the mortgage interest only or capital and interest as this makes a difference to the amount to be divided. With these answers and the figures you quoted, I could almost give you an accurate amount of what you could and should legally receive.

All vital information so that myself and other posters can give you good, free advice.

We can all give sympathy but it doesn't help your question does it. I did state in my post that I agreed with you in paragrath 3.