My rights on money left from sale of home

Quirkylaura

Hi,

Me and my ex bought a new home in 2012 via a first time buyer scheme, where we were loaned 20% to the value of the house and only had to pay 5% on the remaining amount that worked out around £11000. At the time I had about £4000 saved and my ex about £12000, though my income was £33000 pa and his £16000 pa. He ended up paying the deposit and I payed for furniture, get the garden done etc. which used up my £4000 savings. I also payed about £200 more to the mortgage a month then he did. I don't know how that happened it just did because, now I look back, I was a bit of a pushover and he expected me to pay for everything.

In march this year we broke up, I'd had enough of him using me and my money while at the same time acting like a child. By this point I have got a new job that pays more, whilst he is in the same job. I moved out as I was the only one that could afford it in April, but continued to pay my half the mortgage (though somehow, was actually £100 more then my half because I felt guilty leaving him financially worse off) and paying for rent for my own place whilst this house was being sold. We spoke to a financial advisor who said the money we would get back from the sale of the house as of then was around £8000. My ex, because he payed the deposit, expected all of that, and I was too soft again to argue. I continue to pay my half for the next 6 months. The furniture was to be mine and I was going to sell it for as much as I could when the buyer asked for the place to be furnished, to which we asked for an additional £2500 on the house and he agreed. Again, my ex expected that all to be his.

I spoke to him and he said he would let me have £1750. I don't know why but I keep thinking he is in charge and he is taking advantage of me and

ACG

Theoretically yes.
Although if you agreed via text message or email and its in writing somewhere he could argue otherwise.

I THINK the solicitor would be inclined to split the money 50/50 and let you argue it out between you or possibly keep hold of it until you agree - but that would presumably hurt him more than you?

cte1111

Could you work out how much you've both put in, then split the proceeds accordingly?

So initially it was £12000 he contributed for the deposit and £4000 you contributed for the furniture and garden. Then you've made say 18 mortgage payments of £500 and he's made 18 payments of £300. Add the lot up and see where you end up.

On my figures (which are made up), you've paid 43% and he's paid 57%. If you end up with £10,500 after costs, then you'd get £4490 and he'd get £6009.

Dave_Ham

It will typically be 50-50, unless you formalised something different upon purchase.


Get what you can and feel is right, although ensure the sale goes through. Spend 10 minutes searching on here and you will find people whose ex's are staying in the property, not paying the mortgage, or paying in arrears and killing their credit file in the process and can drag on for years and with children even longer.


Take the closure and move on, whilst doing the best you can in the process.


Good luck