Help & Guidance Please!

Orlando_Virgin

Little_Miss_Uni-Debt wrote: »

Hi,

I think the more she pushes to have it back in a lump sum the worse off she will do out of it really! Basically she doesn't really care if you have to pay over the odds to pay her back. I think if it went to court they may just say she has a charging order on the house and she'd get the £3500 once it was sold.

Then she'd be stuck without it for a long time!

I'd also be wary of paying her back and having her name on the mortgage of the house still. What's stopping her staking a claim on the house after you've paid her back already? You'd have to prove you made the payments so keep receipts!!!

So she wants the interest as if it had been sat in her bank, she wants it in a lump sum and she wants the extra if the property has risen in value.

I'd ask her does that mean she's willing to accept less if it has dropped in value. It seems to me she wants to have her cake and eat it!!!

Yes, she did invest which means she took the risk of a loss. This is one of those instances.

I can see you want it to be amicable but it's clear she isn't fussed what situation you're in.

Why don't you just send her a cheque for the full amount but post dated 2012 and you can just start saving in a bank account.

Doesn't she see that she is better off having some paid into her account monthly so she is gaining interest instead of you saving up to give it to her in a lump sum!

Is there maybe a family member who you could borrow the money from? Then you could pay them back monthly and they might be easier to deal with than your ex!! Plus you could pay a little extra back to them as a gesture of thanks. It'd still be a LOT cheaper than a loan from a bank!

I'd have to have a word with my parents for that, its just I'm 26, I got myself in this scenario and would prefer to get myself out of it! They're very supportive and I know they would do their best to help me out, but I also know they have their own issues to worry about and I earn more than my Dad as it is.

Thats what upsets me the most, she clearly couldn't care less about what situation I'm in, or what a loan would do to me etc. she just wants her money.

I am VERY wary about giving her any money with her name on the mortgage but for monthly installments that would have to be the case, I would have to keep receipts - I agree. Look how bitter it has turned in like 2 months?! Thanks for your words, they make me feel a bit better, especially seen as I have bloody toothache today as well!!

Orlando_Virgin

Rught, finally a bit of good news.

Spoke to family members today and they are going to provide me the £3.5k. I am massively grateful for this and it presents me with a new problem.

If I give her this lump sum with a signed agreement saying she no longer has any stake in the house would this hold up in court etc? I would doubt it knowing a bit about law?

Orlando_Virgin

Orlando_Virgin wrote: »

Rught, finally a bit of good news.

Spoke to family members today and they are going to provide me the £3.5k. I am massively grateful for this and it presents me with a new problem.

If I give her this lump sum with a signed agreement saying she no longer has any stake in the house would this hold up in court etc? I would doubt it knowing a bit about law?

Can anyone help with this? We have drawn up a letter have the money ready to sign, would this document be ok, basically outlining she has 0% interest or money invested in the property from this point onwards even though she is on the mortgage?