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Buying out the ex.
catz648
Posts: 11 Forumite
Hi,
Sorry if this has been gone over numerous times before!
I am looking at buying out my ex and trying to work out figures. If the house is valued at £156,000.00 and we are going for 50% split thats straight-forward but am I right in assuming that the amount owing on the existing mortgage (about £28K) will also have to be found from somewhere? Do we pay 50/50 on that? Do I detract it from the £156,00.00?
Want to get my head round figures before I see the man about the morgage.
Thanks!
Sorry if this has been gone over numerous times before!
I am looking at buying out my ex and trying to work out figures. If the house is valued at £156,000.00 and we are going for 50% split thats straight-forward but am I right in assuming that the amount owing on the existing mortgage (about £28K) will also have to be found from somewhere? Do we pay 50/50 on that? Do I detract it from the £156,00.00?
Want to get my head round figures before I see the man about the morgage.
Thanks!
0
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