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Buying me out of mortgage help
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Miss.Fortune
Posts: 35 Forumite

Hi. I was looking for a little guidance please, if possible?
My partner and I have decided to split. We own a house with a mortgage. I will leave the house with child and go into private rental, my partner would like to stay in the house and buy me out. All good there, both happy with the plan.
Basic facts are as follows:
- My partner & I are not married
- We are Joint Tenants
- Each put down equal deposits
- Since taking out the mortgage, we have paid fairly equal amounts towards the house each month (Partner paid mortgage, I paid the equivalent in bills)
- We have agreed to split house equity 50/50
So in theory all pretty straight forward. But what do I to get the ball rolling. Solicitor, mortgage advisor, estate agents to value etc. ??
Feeling a bit overwhelmed with everything right now & struggling to be practical.
Feeling a bit overwhelmed with everything right now & struggling to be practical.
Any help very much appreciated.
Thank you!
0
Comments
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You don't need to do anything for now, your partner applies for a new mortgage in their name first, if you have no idea of valuation then yes Estate Agent will value or you could look at recent house prices in your area and see if you can come to an agreement without them."You've been reading SOS when it's just your clock reading 5:05 "0
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