Joint mortgage - relationship breakdown

TonyMMM

cherrybelle wrote: »

A year later, I stopped paying my half, and my ex is now paying the whole mortgage.

That might make the calculations a bit more complicated ...

getmore4less

If you want to do this in a fare way based on te equity you each own.

given the senario
buy , you paid 1/2 the mortgage for a time then he pays it all.

So you tot up the total cost of house costs and any costs you want to include in the calculation say the furnature.

eg, house £152, deposit £30k(him) ,costs £2k(shared), furnature £4k(you)

So total purchase costs are £158k he owns £92k, you own £66k and you both owe £61k each of the mortgage

Your share is £66k/£158k == 41.77%

Now you ned the value when you stoped paying the mortgage say this was £160k

You own ((£160k * £66k/£158k ) - £61k ) / £160k == 3.647% of the value.

He now owns the rest and the all the debt if he is happy to be paying all the mortgage, If not then another arangement needs to be made.

When you come to sell you get 3.647% of the profit or owe that % of the shortfall.

NOTE leagaly you are both jointly liable for all the debt.

Another way to deal with this is to asess a market rent he pay rent as if you were bot the landlords and you get 41.77% of that rent but you still pay your share of the mortgage this will give you the 41.77% ownership(profit/shortfall)


Remember that you should also contribute to the maintanence/costs of ownership at these % but not the runing/living costs.