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Break up and x2 mortgages?
Ross1980
Posts: 1 Newbie
Hello there I’m seeking some advice,
Myself and partner are breaking up, we have two mortgages and live in one large house and rent the other out.
Large one has a good chunk of equity but brought six months ago and has a 5k payment if we sell within the first two years.
The other is a smaller house and just reached positive equity.
We’ve given notice to the tennent and I’ve freed to go and live in there, however I’d like something legal to state when the 5k return has expired, summer 2019 both houses would be sold and a 50/50 equity split.
Is this something that can be done?
We’re splitting bank accounts and being responsible for the homes we reside in payment wise just so everything’s covered but are happy we have both provided to anything gained.
Anything else that needs to be done?
Many thanks, any help will be fantastic.
Myself and partner are breaking up, we have two mortgages and live in one large house and rent the other out.
Large one has a good chunk of equity but brought six months ago and has a 5k payment if we sell within the first two years.
The other is a smaller house and just reached positive equity.
We’ve given notice to the tennent and I’ve freed to go and live in there, however I’d like something legal to state when the 5k return has expired, summer 2019 both houses would be sold and a 50/50 equity split.
Is this something that can be done?
We’re splitting bank accounts and being responsible for the homes we reside in payment wise just so everything’s covered but are happy we have both provided to anything gained.
Anything else that needs to be done?
Many thanks, any help will be fantastic.
0
Comments
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You need to get this sorted and agreed with the help of a solicitor.
What happens if you can't sell either of the properties in 2019 !
Be very careful about moving out of the family home0
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