Split from partner

blue_max_3

True. What is the value you had in mind OP?

everycloudandthat

A house in our street sold for £140,000 in January this year so was thinking he keeps his £70,000, remortgages for £70,000 and gives that amount to me. Reasonable? He's paid nothing for 7 years only half the bills but none of the mortgage, it's only been in the last 5 years when the kids were born that's he contributed more and obviously in that time paid off the mortgage in one flat sum of £70,000. 

blue_max_3

Well, that sounds reasonable. Maybe you could print that off and use for the valuation. If he agrees, the only fly in the ointment would be the mortgage valuation. But it seems like you may be ok with that evidence. I wouldn't hang around though.

Comms69

everycloudandthat said:

A house in our street sold for £140,000 in January this year so was thinking he keeps his £70,000, remortgages for £70,000 and gives that amount to me. Reasonable? He's paid nothing for 7 years only half the bills but none of the mortgage, it's only been in the last 5 years when the kids were born that's he contributed more and obviously in that time paid off the mortgage in one flat sum of £70,000. 

I dont see how it's relevant that he paid nothing. I would have said the same thing to him, because he was not an interested party in your mortgage.
It seems that he has infact paid for half the property. Seems perfectly sensible when kids were born he contributed more, as you were then a family. 
How is the house owned? It would seem most appropriate to get it valued, and each in effect have half. The house may or may not be worth £140k now

blue_max_3 said:

Well, that sounds reasonable. Maybe you could print that off and use for the valuation. If he agrees, the only fly in the ointment would be the mortgage valuation. But it seems like you may be ok with that evidence. I wouldn't hang around though.

Also consider the saving on agents etc. so in effect the OP will be making money 

everycloudandthat

I own the house it's all in my name. This has come at such a bad time with covid and everything, really won't be happy if house value has plummeted. I've put a lot more than £70,000 into the house when you take into consideration gutting the place and not to mention the interest I've paid when I paid the mortgage singlehandedly. I think to ask for £70,000 would be feasible really as the market will eventually come back up.

Comms69

everycloudandthat said:

I own the house it's all in my name. This has come at such a bad time with covid and everything, really won't be happy if house value has plummeted. I've put a lot more than £70,000 into the house when you take into consideration gutting the place and not to mention the interest I've paid when I paid the mortgage singlehandedly. I think to ask for £70,000 would be feasible really as the market will eventually come back up.

Yes ofcourse you've put in a lot more than £70k, but thats because of interest etc. You also had the potential profit from it.
I just dont see why you dont just sell it and split the money?

everycloudandthat

He still wants to live there rather than having to buy or rent again so we just thought it easier for him to give me the remaining value of it and i transfer it into his name.

blue_max_3

Comms69 said:

Yes ofcourse you've put in a lot more than £70k, but thats because of interest etc. You also had the potential profit from it.
I just dont see why you dont just sell it and split the money?

Does he actually want to live in the property? He could agree to sell, but never accept any offer under the asking price and stall whilst living there rent free. Do you really not want the property any more? Though I can see it might be convenient if you are getting your mum to childcare, if you have to work.
Simple is perhaps best and agree the 70k and sign it over to him. And hope he gets it done soon.

everycloudandthat

Yes he wants to live there saves him the hassle of moving, doing somewhere else up etc. I'm happy to sign it over as long as I get the 70k and I can leave him to it then. I presume it's just of case of him taking out a mortgage on it and then me signing over the deeds? 

everycloudandthat

Yes he wants to live there saves him the hassle of moving, doing somewhere else up etc. I'm happy to sign it over as long as I get the 70k and I can leave him to it then. I presume it's just of case of him taking out a mortgage on it and then me signing over the deeds?