Can I claim back my share of house deposit after my name has been removed from mortga

gavandcarly

lol, thank you for all of your help though, you have been great!

Could you please send me the link for the house selling board? I cant seem to find it.

Thanks again :-)

silvercar

You should have negotiated any money back as part of the agreement to remove your name. Did you have a solicitor acting for you? They should have discussed this with you.

As to whether you are entitled to any money back :shrug: it depends on the figures. Is the house now worth more or less than when you bought it? Has the mortgage ever been increased? Is there equity in the property? If you feel comfortable posting the price paid, the mortgage then and the mortgage now, plus the current value of the property, people can offer guidance.

fluffnutter

silvercar wrote: »

You should have negotiated any money back as part of the agreement to remove your name. Did you have a solicitor acting for you? They should have discussed this with you.

Totally agree with this, and I find it a bit worrying that the OP didn't know he was no longer on the deeds. It would seem that there was no 'agreement' or certainly not one he was ever aware of! Was he ever on the deeds?

Here's the link to the house selling board if you still want it OP.

http://forums.moneysavingexpert.com/forumdisplay.php?s=&daysprune=&f=16

Caz3121

Did you see a solicitor when you changed the ownership. The 'norm' when one person agrees to take on the mortgage alone would be to agree what equity they need to pay the other party and get and either use cash or increase the mortgage to cover this.
In these times of a falling market the deposit may well have gone

example in rising market
bought for £110k, deposit £10k mortgage £100k...value now £140k, mortgage now £90k = equity £50k to be shared
example in falling market
bought for £110k, deposit £10k mortgage £100k...value now £90k, mortgage now £90k = equity zero

hindsight is great but you should probably have refused to have your name taken off until this was resolved

silvercar

I see your now on the housing board with this question.

gavandcarly

I only paid roughly £2000 deposit, and I obviously was paying half of the mortgage whilst I was living there and for roughly 6-8 months whilst I was not living there and she had the house to herself. I then got a lodger in the house to pay my share of the mortgage. I was however still paying ground rent every 3 months on the property. The property at the is apparently in negative equity so she says anyway.. I am not 100% sure about that though. I have seen apartments in the same building sell for the same price in which we bought the place.

gavandcarly

I did not go through a solicitor, as I could not afford to pay one at the time, we had just had a baby, I was paying rent elsewhere, and I was paying fees towards the house we owned together. She did however instruct a solicitor which sorted all the paperwork and sent me the forms in which I needed to sign to transfer the equity over to her.

I know I am probably stupid, but I just wanted her out of my life, she kept trying to contact me and using the house as a means of contact, I just wanted to cut all ties with her asap. I requested so many times for her to take my name of the mortgage, years went by and she kept refusing. When she finally agreed I jumped at the opportunity.

downsizer3

As part of the mortgage transfer into her sole name, the deeds would have been altered and you taken off.
Ordinarly the negotiations about who has paid what ought to have happened at that time - I can see why they didn't but it is pretty hard in retrospect - particularly if things are acrimonious and your ex unwilling to part with the cash ( most likely!!)
You would need some sort of proof of what you put in - bank transfer at deposit stage - regular mortgage payments etc - then get yourself a lawyer!
Good luck.

BitterAndTwisted

Two grand? That's probably close to what it cost your ex in remortgaging and legal fees to take on sole responsibility for the property and set you free. Look at it as an investment in the child's future.

pollyanna24

My brother bought my ex out of our house at the beginning of last year. We agreed on my brother giving my ex £20,000 (equity in the property).

If my ex decided to try and get money out of me now (granted he was given what we agreed - and technically you were as you "agreed" no money), I would fight it tooth and nail cos as far as I'm concerned, he has absolutely nothing to do with the house. He is not on the Deeds, has not contributed towards the mortgage for the last year etc. etc.

The house is your ex's, end of in my eyes. You should have done something about it before, otherwise people having their names off Deeds could try and go chasing money years later, and then what would be the point in going through the whole "Transfer of Equity."