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Buying someone out of a mortgage help

So basically my wife bought a house with her sister 15 years ago

I moved in 13 years ago and she moved out. Since then I have been covering the mortgage.

How would we calculate a buy out amount. I assume the initial deposit back and the 2 years of payments? And a token gesture .

Or would it go on the original purchase price and what it's worth of and then splitting the difference 50/50.

Many thanks


  • MovingForwardsMovingForwards Forumite
    16.1K Posts
    10,000 Posts Fourth Anniversary Name Dropper Photogenic
    What did they agree between them when they purchased the property?

    If no agreement then you have:

    1. Value from 13 years ago, less amount of equity paid (not a lot as it would be front loaded with interest) ÷ 2 = amount due to SIL (or the same + 50% of rental cost over the 13 years due to SIL.)

    2. Value from 2018, less equity (decent amount depending on mortgage term) ÷ 2 = 50% payable to SIL (or the same + 50% of rental cost over 13 years due to SIL)

    It can be as easy or as difficult as you all make it.
  • Many thanks gives us something to go on. And nothing was ever agreed from when she moved out. And I have been paying it since. She has paid nothing towards it since moving out.
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