Can I be forced to sell?

Comms69

chelseablue wrote: »

Thank you, it might be best to sell and buy a place in my name only.
Then at least we'd no longer be financially linked

Our son starts school in September so would ask him if I can at least stay in the house this year and put it on the market in Spring 2019

In 9/10 it's about communication. If you both have open discussions I suspect the result will be far more amicable, especially since you're linked for the next 14 years atleast.


Will your new place be in the same catchment area?

chelseablue

Comms69 wrote: »

In 9/10 it's about communication. If you both have open discussions I suspect the result will be far more amicable, especially since you're linked for the next 14 years atleast.


Will your new place be in the same catchment area?

I'd move within the same town but possibly not school catchment area

Comms69

chelseablue wrote: »

I'd move within the same town but possibly not school catchment area

Just need to consider some practicalities like getting to school etc, alongside work.


It can all change, but being close to school is a godsend for me.

chelseablue

Comms69 wrote: »

Just need to consider some practicalities like getting to school etc, alongside work.


It can all change, but being close to school is a godsend for me.

Yes I only live 5 minutes from work and local schools so wont be moving far.

Been looking at Rightmove and could get a nice 2 bed for around £375,000

Comms69

chelseablue wrote: »

Yes I only live 5 minutes from work and local schools so wont be moving far.

Been looking at Rightmove and could get a nice 2 bed for around £375,000

Must be a nice area, that would buy you a 4 or 5 bed round here, with change

chelseablue

Comms69 wrote: »

Must be a nice area, that would buy you a 4 or 5 bed round here, with change

I live in Berkshire, feels like its the most expensive place on the planet sometimes!

Thrugelmir

chelseablue wrote: »

If he decides to force me to sell I guess that would be expensive (for him?)

The judge could award costs to him. These would be paid from your share of equity in the property.

A good solicitor will steer you clear of such a situation if possible. Realistically it's cheaper to compromise than both spend money on legal advice.

getmore4less

When this was set up what was the initial mortgage.

chelseablue

getmore4less wrote: »

When this was set up what was the initial mortgage.

Mortgage starting balance was just over £231,000

getmore4less

chelseablue wrote: »

Mortgage starting balance was just over £231,000

with 2 deposits £164k and £6k total £401.

70:30 would have been £280,700 £120,300

Proper equity with mortgage 50:50 would have been £279,500: £121,500 so looks like that's where the 70:30 may have come from but then you don't get your deposits back first when you work out what you get as you deposit buys a share.



using equitable share mortgage 50:50 OH should be due

House value: £430,000
Mortgage o/s: £219,000
So equity is currently £211,000

(£430k * 0.3) - (£219/2) £19.5k