Transfer of equity advice please

Amy542

Hi information and advice gratefully received: my partner and I bought our home for £280,000 (2009) and I put in £210,000 capital. we got a mortgage for £78,000. We are splitting up and the outstanding mortgage is £58,000. I have a deed of trust protecting the £210,000. The house is valued at £336,400 and I want to buy my partner out. We are thinking that I pay him half of what he paid towards the mortgage ( approx £9000) and 13% of the equity but I am not sure what else we add into the calculation. I guess as it's technically treated as a sale do we take into account solicitor and estate fees in the calculation? Would his cost of these fees be 13%? We are good friends and I do not wan to rip him off but be fair and give him what is owed. Thanks

Thrugelmir

What you include is up to you. With regards to selling costs etc. Your partner will incur costs of buying a new property. So perhaps not a road to travel down with regards to the existing property.