We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Advise needed in relationship split with property
Comments
-
as the debt is totalling £170K and the asset will be lucky if its £150K, certainly not after fees etc, then there isnt 50% of anything for her to have. It's bordering on no equity, especially given it's a buyer's market (figuratively speaking of course). Get three agents in and see what they say
the real (financial) decision will be do you want her name off the deeds and can you raise a mortgage on one salary, and somehow deal with the debt as well- or sell it, but then having to deal with who pays the mortgage in the meantime...0 -
you need a solicitor - yes an actual solicitor, and I'd go to a family solicitor. highly complicated area.My posts are just my opinions and are not offered as legal advice - though I consider them darn fine opinions none the less.:cool2:
My bad spelling...well I rush type these opinions on my own time, so sorry, but they are free.:o0 -
The debt is mine already sorting it with a DMP. Will be able to fund mortgage payments on there own as i have been since we bought the property. Partner paid for the going out/spending money and shopping. So have been doing it on my own anyway. partner wants me to buy her out so she can move on. Raising the funds now thats a problem. Solicitor couldnt afford one anyway.January 2011 £24,000 Debt
February 2014 £8141 :j
June 2014 DEBT FREE ALL LOANS PAID OWE NO ONE :beer:
IT CAN BE DONE0 -
I really dont think you have much equity to "buy her out"
We're talking a few K here at best.0 -
if house sold for max £160 minus solicityor and estate fees shallw e say £3000. Mortgage £144,000 that would leave £13,000 in the pot am i correct maths was never my strong point.January 2011 £24,000 Debt
February 2014 £8141 :j
June 2014 DEBT FREE ALL LOANS PAID OWE NO ONE :beer:
IT CAN BE DONE0 -
How was it bought in the first place- who paid what % of the deposit?
Also, you haven't said what the "going out/spending money" and shopping was- are we talking £30 Lidl shops and a monthly film? Or are we looking at more like dinners out 2-3 nights a week and several holidays abroad a year? (what the going out/spending money actually was DOES matter, since the two extremes are quite different, and changes what is and isn't fair)0 -
SHOPPING £250-£270 month. Spending drinks down pub nothing flash, Holidays one sun holiday per year maybe two. OH pay for holiday costs i pay spending money. Her salary has varied throughout the time i have been with her including 6 months out of work. For the last 18 months she has been on the same as me, just over £20kJanuary 2011 £24,000 Debt
February 2014 £8141 :j
June 2014 DEBT FREE ALL LOANS PAID OWE NO ONE :beer:
IT CAN BE DONE0 -
highly unlikely you will get a solo mortgage for £114k on a £20k salary so selling looks best to me...Debt free 4th April 2007.
New house. Bigger mortgage. MFWB after I have my buffer cash in place.0 -
When you bought, what did you agree? Are you tenants in common, or joint tenants?
If you are both owners, and made no declaration about who owned what share, 50/50 is the starting point....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.6K Work, Benefits & Business
- 603K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards