Ex Wife refusing to buy me out of joint property

sumps1976

Well, where do I start.. My ex and I separated in 2009 and she initially wanted to stay in the our house which we bought after selling our first house together and begged to stay in. I, feeling guilty agreed to this and she agreed to stay on interest only for 2 years until she was back on her feet. Fast forward 11 years and she is still on interest only and has refused to remortgage a few years back so she can start paying off the mortgage. Each year she says next November she can do it. She's has her partner living there and they now have a son who is 6/7 and they have been paying £238 a month for over a decade. I've tried letters and mediation and now it's going to court in June. I'm 44 and I feel completely played. 
I am wondering if anyone else has been in this situation before. 
To recap.
We sold our previous house and upgraded. 
I left the family home in 2009
She has stayed on interest only since then. 
I want off the mortgage and also what I put into the house which is 10k.
The mortgage is 155k but the house is worth over 200k.
I am attempting to force a sale.

gingercordial

You say "ex wife" and "separated" - are you legally divorced?

If so, did you get a financial agreement drawn up during the divorce and what does it say about the house?

lucypilates

If the property has increased in value in the time that she's been living in it (and have you been contributing to the mortgage at all?) then you should be able to take out your share as a PROPORTION of the total house value rather than fixed at what you actually put in .. your money in the property should be seen as an investment.
 

Capri84

Yep. Get it sold and take half of the proceeds. Don’t let her stitch you up any further. 

Tiglet2

I think you will have to let the courts decide, as you and your ex have not been able to come to a suitable agreement in 12 years.  Once you get a consent order, your ex will have to abide by the terms of that order.  Sorry you have been played.  

Norman_Castle

"I want off the mortgage and also what I put into the house which is 10k.

The mortgage is 155k but the house is worth over 200k."

Your 10k is 6.45% of 155K. You should get 6.45% of 200k

dimbo61

We'll make it clear you want off the mortgage and the £10K you put towards the deposit or you will force a sale and go for 50% of the equity in the property.
Your EX may reply by saying you have not paid towards the mortgage.
Your reply should be you have not paid towards my rent for the last 11/12 years.
She has had a cheap home for X years.

Wanderingpomm

You should be entitled to half the proceeds from the sale, which will be far more than 10k. Or do you want 10k then half of what’s left? 

GDB2222

There’s £45k equity in the house, but you could spend a lot of that on legal fees between you. But I agree that you can’t just leave this any longer.

AdrianC

GDB2222 said:

There’s £45k equity in the house, but you could spend a lot of that on legal fees between you.

This.

How much equity there is post-sale is theoretical until you know the sale costs.

Just ask the Jarndyces for an explanation.

Sistergold

Yes force a sale! What a woman? Even if you lose everything in legal fees it’s best to still go this route just so that she and partner can join the real world where they pay their fair share. They have really been unfair to you, paying interest only. If you do nothing this will go on for life! Did you and ex have children at all?