What to do can i get partner to sell the house?

Disco1975

Hi all, this is my situation,
I had been with my partner (not married) for just over a year when her father died...I then went onto a mortgage with her mum and my partner otherwise they would of lost the house....i have been paying a share of the mortgage for over five years and contributed around 20k in mortgage payments alone and now we have seperated due to me having suspicion about one of her work colleagues which she is now with.
I am on the declaration of trust as a joint owner with my partner and her mum...it states that if the house was to be sold then the mum would be entitled to a payment of 61k which i am fine with....then the rest to be split in three equal parts.
The only trouble is ther is no equity in the house and she wants to keep it.....am i entitled to what i have paid in to this house over the years or what other options do i have....i know i'm going to need a solicitor but any advice would be greatly appreciated.
Thank you in advance

DVardysShadow

Well, if there is no equity, there is no point in selling it, is there? How much is outstanding on the mortgage and how much would it sell for?

Probably your best course of action is to give your part of the house away if there is no equity. Your £20k is lost.

mynameisdave

I cant see the point in forcing a sale either. You won't get what you have put in if there is no equity.

CLAPTON

give some figures , realistic value, mortgage
do you still pay towards the mortgage
who is living in the house

PasturesNew

If you're still paying the mortgage, charge them rent on your 1/3rd.

Disco1975

Sorry folks i didnt mention that she wants to keep the house!
61k is in her mums name, mortgage is 140k value of house maybe 200k -220k
We have agreed mutually that i no longer contribute as i am no longer living there, her mum has moved out.
Thank you

cashbackproblems

Well if theres no equity then no point selling it, if youv lived there for 5yrs you can just think of it as you paying rent, 20k for 5yrs sounds like a good deal!

Best think u can do is no longer pay a penny into it and thrash the place/steal valuable items on your way out and let her pay for it.

Disco1975

Can i buy the house from her and how much would it cost me?
thank you

PasturesNew

To buy the house, it will cost you:
£61k + £140k

You'd have to raise a mortgage of £201k.
£61k goes to the mother
£140k goes to pay off the existing mortgage.

But morgageability depends on: your earnings, the valuation on the house.

And the numbers start moving about because of the valuation and deposit needed.

Disco1975

PasturesNew wrote: »

To buy the house, it will cost you:
£61k + £140k

You'd have to raise a mortgage of £201k.
£61k goes to the mother
£140k goes to pay off the existing mortgage.

But morgageability depends on: your earnings, the valuation on the house.

And the numbers start moving about because of the valuation and deposit needed.

would my partner have to agree to sell or do i have a right to buy it?
Thank you

mynameisdave

cashbackproblems wrote: »

Best think u can do is no longer pay a penny into it and thrash the place/steal valuable items on your way out and let her pay for it.

UM. No it isn't for several reasons.

1. Its spiteful oikish behavour
2. Criminal damage is illegal
3. Stealing is illegal.
4. He owns a 1/3 of it so its liable for 1/3 of the shortfall on the mortgage due to any of his damage. Alternatively he is reducing his chance of making any cash from it.