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Mortgage and Divorce ....
The_Big_Yin_4
Posts: 57 Forumite
Me and the OH are seperating and i have allowed her to transfer the mortgage to her name and keep the equity i have accrued in the house til my daughter turns 16 in 8yrs time. She is going to a solicitor to get the documents arranged (this is all amicable)
I want to know if legally this equity money should be earning interest and at what level ?
Sorry for all the questions and thanks in advance
Even if it was just 3% net interest on £42.5k is a lot of money if compounded
I want to know if legally this equity money should be earning interest and at what level ?
Sorry for all the questions and thanks in advance
Even if it was just 3% net interest on £42.5k is a lot of money if compounded
Adjusting to life on my own, No wife = spare cash :beer:
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Comments
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No I don't think so. What should happen is that your £42.5k should be expressed as a % of the total house value and when your daughter is 16, you should be repaid that percentage, which will take into account any movements in house prices over the period. You and your wife will either need to agree a value, or get a valuation survey done.0
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Thanks I had not thought of doing it as a percentag, that makes it a lot easier nowAdjusting to life on my own, No wife = spare cash :beer:0
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