We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Buying out ex Partner on a property with a mortgage
Comments
-
So the best thing to do is, wait for the mortgage deal to come to the end, then speak to the lender about transfering it over to just my name ? im still confused how i would owe stamp duty on this ? there is still 262k on the mortgage and im paying her 33k, she only ha a 25% share, so how much would i have to pay ?0
-
gettingitsorted1980 wrote: »So the best thing to do is, wait for the mortgage deal to come to the end, then speak to the lender about transfering it over to just my name ? im still confused how i would owe stamp duty on this ? there is still 262k on the mortgage and im paying her 33k, she only ha a 25% share, so how much would i have to pay ?
Yes - if you can wait until the mortgage deal comes to an end and then explore your options.
Nobody can give you exact figures because we do not know what the value will be when all the paper work goes through. However if you owe the stamp duty your solicitor will most certainly let you know.
If I was her I would want the value in a year or 18 months time. not the value now or what it was when the property was first bought. If she wants money now/soon she will have to accept todays value because without a crystal ball you cannot say how much it will be worth in the future.0 -
yes i made her an offer based on what its worth now and will give her a lump sum straight away, i think its best that way, the property price could also drop, she just wanted to figure so she knows how much she will get. its all pretty fair from what I can see.0
-
Ok so keep up with the repayments - hope and prey she does not want to borrow for a new place!
Have an agreement drawn up to pay her so much now/soon and the remainder within 2 years OR WHAT SUITS.
An agreement will cost you both because she ought not to sign anything without her own legal advice. If you can both wait for the mortgage deal to end that will be cheaper.
She need not worry that you will cheat her because you know from here that you cannot change ownership easily!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.8K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards