Post deleted.

SteelMagnoliaStar

Thanks to everyone who has replied to my question. It's been answered now, so thank you everyone.

opinions4u

If the mortgage company won't allow him to have the property in his own name, how will he buy you out?

Given that there is little equity and you contributed nothing to the deposit, why should you be entitled to anything?

Get it sold, accept you won't get anything and move on with life.

Annisele

SteelMagnoliaStar wrote: »

I'm thinking of asking for the total amount that I had paid towards the mortgage plus half I had paid for new carpets, bathroom, computer etc etc...as a way of him buying me out.

Others may disagree, but I can't see that as a reasonable starting point. It isn't as if you got no benefit at all from the contributions you made to the mortgage - your contributions paid for somewhere to live. If it helps, you could consider the interest part of the payment to be equivalent to rent.

As to the carpets etc, their second hand value is going to be a fair bit less than you paid for them. You can of course ask for whatever you like, but to go in at half sounds a bit steep.

However - if he doesn't earn enough to take on the mortgage in his sole name, then what you want him to pay you is irrelevant as he can't afford to pay you anything.

In addition, from the figures you've posted it's possible that you ought to be paying him to get out of the mortgage liability, rather than the other way around - it's not much of an investment if it's losing value! No matter how awful the pictures on Rightmove, if £147,500 was a good price there would have been interest. After estate agents fees etc, you might well be lucky to get £135k - or less - out of the place.

I'm sorry to be so negative, but I think that if you can get out of this with a clean slate - i.e. credit rating intact and not owing money to anyone - you'll be doing just fine. I think it's unrealistic to expect much more.

SteelMagnoliaStar

Thanks for your helpful comments.

Yes, it would be good to 'Get it sold.' However, it's not selling.

How long do I stay on the mortgage for? Till he sells? Till some one else he meets takes my place on mortgage?

TrickyDicky101

The beauty (horror) of joint and several liability under which you would have signed up to the mortgage is that the bank will come after you for payment until it is repaid. What your partner does is largely irrelevant - if he were to stop making the mortgage payments, the bank will chase whichever of you it thinks it will get money out of. If you have a stable job/some assets that would likely be you.

diable

It could be for a very long and you could be liable for the whole amount.

hcb42

I think your starting position is completely unreasonable.

You didnt contribute to the deposit and now you want money back for paying what you were legally liable for (and are still legally liable for).

You just need to walk away, if partner is letting you - there is nothing left here for you. It could be a lot worse.

Tigsteroonie

SteelMagnoliaStar wrote: »

Thanks for your helpful comments.

Yes, it would be good to 'Get it sold.' However, it's not selling.

How long do I stay on the mortgage for? Till he sells? Till some one else he meets takes my place on mortgage?

Welcome to my world.

My Ex cannot afford to buy me out. The house is still on the market. This is two years after separating.

I would walk away, but there is equity to be released when the house eventually sells and, as I contributed equally to the household at the time, I believe I am entitled to a share of that equity. What we have agreed is that I get a share upto the value of the house at the point at which I left (had a valuation done then) so that any increase in value over the last two years is his.

beecher2

I agree with others and can't see how you are entitled to anything from the ex. His parents provided the deposit, and as it is they will not get back what they put in. Spend your energy in trying to encourage your ex to cut the price, as it is probably too high if it has still to sell.