Ex partner refusing to let me buy their share of the house

Charrrb

Hello everyone,

I'd appreciate any advice on the predicament I'm in currently, or if anyone has gone through a similar experience. 

I bought a house in March 2021 with my partner. A house that I have spent every but of my free time in the last 6 months devoting to decorating and getting the house to just how I wanted it. 6 months into the relationship, my partner cheated on me and so I ended the relationship. We are joint tenants on the house. We had continued to live together amicably, with the agreement that I would buy them out of the house. We had 3 estate agents value the house, this value averaged at £210,000. Leaving us with £50,000 of equity in the house (£25,000) each.

I applied to remortgage with the addition of £27,500 (£25,000 for their share and £2500 for the contents that we both calculated together and divided by two) to buy out my partner and was accepted. This was all agreed by both of us and the law company acting on my behalf for the sale sent me the relevant paperwork to complete.

Since then, my ex has become increasingly difficult and obstructive. I think they thought I would get back with them before it came to this part and the sudden realisation has hit them hard. For example, they are now disagreeing with the house price of £210,000 as one of the estate agents stated that they would put it on the market for £220,000. Therefore, they want a larger share of £32,500, although, I am unable to borrow this amount as the mortgage surveyor has valued the house at £210,000 and therefore wont give me a mortgage based on this value. They have become increasingly paranoid that I am trying to cheat them out of the property. They have got through my personal items looking for details of the remortgage as they believe I am actually getting extra surplus money on the remortgage that I will use for myself rather than to buy them out of the house. I have repeatedly explained that that isn't the case and showed them the amount that I the mortgage lender will be giving me in order to buy them out.

I am now getting so drained with this whole situation and I'm considering putting the house on the market. My ex had admitted that they know putting the house on the market will result in them getting less due to the cost of estate agents and solicitors fees but has stated that they don't care as long as I don't get what I want (the house). It's incredibly frustrating, I do feel attached to the house as I was the one who spent the majority of my time decorating and getting it just how I would like so I only want to do this as a last resort.

My questions are; what are my legal rights if I am offering to buy my ex out of the house for a price that has been calculated by 3 estate agents and confirmed by a surveyor? Can she force me to sell when I can afford to buy the house for the price it will probably go for? should I put it on the market at £220,000, wait for no response and then once the price is lowered to £210,000 (the price I'm willing to buy her out for) do I now have the right to buy/remortgage it?

Apologies for the length of the post and also if there is any error in terminology. Any advice appreciated!

Thrugelmir

You've no rights. Put the property on the market and see what happens. Your ex may come to their senses and possibly compromise. 

TBagpuss

If you put it on the market and get an offer, you can then offer the same (or a couple of thousand more) and make clear that if they refuse you will seeking for them to make up the difference (i.e if you were willing to buy them out at the £210,000 value, if it sells for less than that you will be looking to get your full £25K and for them to bear the loss, as it will be due to their actions.
Ultimately it is not going to be cost effective to go to court over it, but actually putting it on the market and seeing what anyone is willing to offer may focus their mind. 

M9174852

Hi there,
From what I have understood  - The surveyor assessment is more useful than the estate agents cost assessment. When you are keeping the property and not putting it on the market, the value that someone else would pay to buy your house is not relevant. What is relevant is the survey report, and your affordability to pay the mortgage and give your ex-partner some equity. The re-mortgage value from your bank is likely to cap what equity will be given as the percentage, and not what an estate agent would value or hope to sell it for. Good Luck. 

theoretica

If you do put it on the market be very careful about the contract that you enter into with the estate agent - you don't want to end up paying their fees if you do buy the property!

getmore4less

Sever the joint tenants or she gets the lot of you die.

Increase the incentives to get them to move on.

IF you have someone new move them in.

Was the purchase equal deposit and share of the mortgage.

You are already taking a hit with the 90% LTV. 

alligin

Also bear in mind that just because an EA markets at a price doesn't mean that it'll sell for that. There will also be additional time, hassle, uncertainty and costs if it is sold via an EA. Whatever the final selling price is, needs to have advertising, EA fixed fees and EA %age deducted.

BellaLasagna2018

I know you said you are attached to the house, but clearly your ex knows that and is using it to manipulate/ control you. Why let them do that? Why not go for a brand new start, in a new house with no memory of them? Put the house on the market, sell it and move on. (although I have a sneaky suspicion that no price will be good enough for your ex, so maybe then you will be able to buy their share, or you will know for certain that they are just trying to hurt you) 

BrassicWoman

Putting the house on the market will 
a) waste EA time
b) waste time and get hopes up of potential buyers

Sort out the situation before involving anyone else.

pinkshoes

Life is too short.

There will be other houses you can put your life and soul into.

It's just money.

WRITE to your ex, stating that your offer to buy her out and give her £X stands for 28 days until 14th Feb 2022, and if she does not accept by that date, then you are happy to put it on the market with an estate agent and accept any offer over £205k for a quick sale. 

HampshireH

If you are attached and just want it sorted, for £5k could you not borrow it from family (if you have any)?

In the grand scheme of house buying £5k isn't a lot and it's what you would be saving on fees between you.

Alternatively save the £5k then buy them out?