Seperation of cohabitees - HELP

Guest101

16102016 wrote: »

Ok so is the ex entitled to what they put in? or the % of any equity that is in the property....because equity is only important when a person comes to sell a property surely?

If the ex does claim a beneficial interest via solicitor & courts - who would pay those costs?

And can they force a sale, or would the ex have to wait until I decided to move/ sell?

Instead of asking the same question again, try answering some.


How much increase in value how much were payments towards the mortgage? You say it wasn't 50%, well what was it?


If she has a beneficial interest she could in theory force a sale.


If the ex wins at court, you could be liable for the costs.

16102016

The payments where into my account.... so could be for anything.... it basically worked out at about 30% of all house bills.... but wasnt paid directly to the mortgage.

The house was worth almost £20k more than I paid for it..... with £25k deposit etc - there is now over £52k in the equity.

saajan_12

This would be easiest to discuss with actual numbers.. What were the monthly:
* partner's contribution
* total utilities bills
* mortgage interest
* mortgage capital repayments


If your partner contributed p% of the total outgoings, I’d say she paid p% of utilities, p% of mortgage interest (both lost money) and p% of capital repayments.. If your capital repayments were £C then in cash terms your partner invested p% * £C * number of months. Then scale that by the change in value of the property and that’s what she gets back.

Depends on how complicated you want to make it, I think that’s the fairest way as some of your partner’s contributions would have gone towards living costs e.g. elec which neither of you should get back. As I said, if you give us (estimated) numbers it’ll all seem much simpler.

Guest101

16102016 wrote: »

The payments where into my account.... so could be for anything.... - nice try, how many judges will fall for that? it basically worked out at about 30% of all house bills.... but wasnt paid directly to the mortgage. - seriously just stop.

The house was worth almost £20k more than I paid for it..... with £25k deposit etc - there is now over £52k in the equity.

So increase of £27,000? So pay her off, it's a small amount by comparison - at best she could claim 13,500, but as you say she wasn't paying 50%, but 30%, £7-8k?

16102016

Guest101 wrote: »

So increase of £27,000? So pay her off, it's a small amount by comparison - at best she could claim 13,500, but as you say she wasn't paying 50%, but 30%, £7-8k?

I only mentioned where payments where made to as it mentions on alot of sites, about where it was paid to.

So has no say over the deposit as £0 contributions? Just the rest of the equity based on % paid?! What about if I dont want to sell..... as im in a fixed deal - so would cost me £6.6k to change my mortgage to release equity

16102016

saajan_12 wrote: »

This would be easiest to discuss with actual numbers.. What were the monthly:
* partner's contribution
* total utilities bills
* mortgage interest
* mortgage capital repayments


If your partner contributed p% of the total outgoings, I’d say she paid p% of utilities, p% of mortgage interest (both lost money) and p% of capital repayments.. If your capital repayments were £C then in cash terms your partner invested p% * £C * number of months. Then scale that by the change in value of the property and that’s what she gets back.

Depends on how complicated you want to make it, I think that’s the fairest way as some of your partner’s contributions would have gone towards living costs e.g. elec which neither of you should get back. As I said, if you give us (estimated) numbers it’ll all seem much simpler.

Ok thats how I was reading things offline too....

Capital paid off £8.2k - contributed about 30% of all bills, so like you said I think surely its fair that the money paid to utilities etc is lost - like it is for me?

16102016

Pixie5740 wrote: »

I wouldn't say that your ex is entitled to every single penny (s)he put in. In order for your ex to legally claim anything they would need to go to court which is expensive and time consuming so it's in his/her interests to work something out amicably with you.

How long have you lived together in this house?

4 1/2 years in the property

Guest101

16102016 wrote: »

I only mentioned where payments where made to as it mentions on alot of sites, about where it was paid to. - there's much misinformation online.

So has no say over the deposit as £0 contributions? Just the rest of the equity based on % paid?! What about if I dont want to sell..... as im in a fixed deal - so would cost me £6.6k to change my mortgage to release equity

As I said, if she can prove beneficial interest, she can force a sale.


Perhaps a low interest loan would be more appropriate to pay her off?

silvercar

16102016 wrote:

Property is worth more or less what it was when I purchased the property - however I did get it for less than market valuation initially.

Capital paid off £8.2k - contributed about 30% of all bills, so like you said I think surely its fair that the money paid to utilities etc is lost - like it is for me?

30% of 8.2k = £2,500

It is worth now what it was when you bought it, so 20k growth between what you paid and its value now. 30% of 20k = 6k.

So there is an argument to be made for a payoff around 8.5k. But if a sale was forced and/or legal action taken money would be lost. I'd say 5k to disappear would be a good compromise.

Guest101

16102016 wrote: »

Ok thats how I was reading things offline too....

Capital paid off £8.2k - contributed about 30% of all bills, so like you said I think surely its fair that the money paid to utilities etc is lost - like it is for me?

You keep saying 30%, but can you prove that.


What's the mortgage, utilities, council tax, additional (e.g. broadband) ?


And what did she pay?