Splitting up and sorting the house.

getmore4less

hazyjo wrote: »

I bought a house with my ex 2 years ago. We are selling and each taking back the money we put in (me: £137k; him: £28k) and splitting what's left 50/50. I suppose I could have pushed for whatever percentage split on the rest, but I've tried to play it as fair as I can as we both made the joint commitment to buy, sold our homes, and shared the mortgage 50:50).

Any solicitor will tell you you're each entitled to take out what you put in (cos you've owned it less than however many years). You should take advice on the rest, or come to an agreement you're both happy with.

Obviously it depends on what you sell it for...

Jx

You may be doing it that way but the correct(fair) way would be to work out the % owed split the proceeds(before paying of the mortgage) on that and each pay off 1/2 the mortgage from your proceeds.

proportioned owned would be (cash in + 1/2 motgage)/total costs

Your way if the value has gone up you are losing out, gone down the OH loses out.

hazyjo

getmore4less wrote: »

You may be doing it that way but the correct(fair) way would be to work out the % owed split the proceeds(before paying of the mortgage) on that and each pay off 1/2 the mortgage from your proceeds.

proportioned owned would be (cash in + 1/2 motgage)/total costs

Your way if the value has gone up you are losing out, gone down the OH loses out.

I'm too soft... should have fought for that! I'm the one losing out as we're selling for £25k more than we paid.

Jx