Calculating Equity in a Shared Ownership Property

Mind_Overload

Hi,

I'm trying to calculate approximately how much I would have if I sold my 50% shared ownership.
I have a 2 bedroom flat in London, details:

Value when bought in 2007 - £198,000
50% Mortgage £98,000 - £18,000 left to pay  

Todays rough value £250,000

I'm looking at 2 bedroom flats in Nottingham, full mortgage, for around £120,000, I want to get out of shared ownership as the rent/service charge has just risen to £605 a month

I have £80,000 in equity, but how is the amount worked out on the increase on the property from £198,000 to £250,000? I'm assuming it is divided by 2 with the HA? Obviously minus many selling fees too.

I appreciate any help,
Many thanks

getmore4less

You  should get 1/2 the selling price less your mortgage 

£125k-£18k = £107k

less the costs  lets say ~£100k net.

Mind_Overload

Thanks a lot on the above!