NEW BLOG. Featuring tips and pics from pet owners of the MSE Forum, we present to you Homemade pet toy ideas. Take a look
Ex Partner Remained in Our Home and is Wrecking It.
in Marriage, relationships & families
37 replies 3.6K views
Latest MSE News and Guides
Energy Price Cap change
Martin Lewis on what it means for youMSE News
Best £1 you've ever spent?
Share your most impressive bargainsMSE Forum
New MSE Forum avatars available
Try 'em out nowMSE Forum
You then moved out in 2015 and the property was worth a lot less by then?
I presume what you are saying is your first house generated the £120k equity for the new house?
So up to 2015 you had both paid half of the mortgage, and since then ( 7 years ) he has paid the whole mortgage?
If there is only £25k left on the mortgage I would suggest that he has probably contributed to a larger share of the equity so if you get 50/50 that could be considered a good outcome.
Have other house sold ( and when I say say don't look at listing prices look at rightmove sold prices ) the same spec as yours to see what it could go for - if there is say a difference of £40k between an EA valuation and a previous selling price, that might be encouragement enough to get the work done if the house is being sold.
I might be getting a little bit of an inheritance from an uncle who died earlier this year, and my mum wants to give me some money at some point - not sure, but if I did, he might take about £30K to resettle somewhere else, I will suggest it.
He is not short of money himself - he inherited £30K from his own uncle a couple of years ago, which he seems to have spent on motorbikes, TVs and electric bicycles while he continues to pay a mortgage and the house collapses round his ears.
He's an idiot basically and his new laydee has my sympathy.
Pay All Your Debt Off By Xmas 2023 - #50 £1,495.29 / £12,000.00
Saving For Christmas 2023 - £1 a day challenge - #6 £100/£1095.00
Regardless of who paid what, when and who lives there.
That is not on. Move closer to something more fair.
If an EA was to value it at say £110-120k in the current state then deduct costs of sales etc and then pay off the outstanding mortgage and the early redemption you MIGHT be talking about splitting £75-85k? At some unspecified point in the future and having had to incur legal costs for both parties to achieve the sale.
£30k probably is on the low side but it's not crazy low. £40k might be seen as fairer.
Of course the issue with settlements like this is that it needs to be something both parties are interested in doing and it's not always just purely about the money. My ex-wife went through courts for more than 2 years to get a court ordered settlement that was less than what i had offered her to settle at the beginning of the whole process. If ex just isn't interested in playing ball then it's just going to have to go to court.
Bottom line is, if I'd stayed in the house I would have invested in it and it would have been worth more ,closer to our original purchase price, and that's why I'm so cross.
All of the people here who say he's just 'happy and tinkering with his bikes' - there's a vast difference between that and completely letting go of the upkeep of a house in shared ownership, which was entrusted to him in good faith.