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Joint Mortgage - Non married couple split
Rachel1780
Posts: 1 Newbie
Can anyone offer any advice? I have a joint mortgage with my partner (we are separating, not married) since 2014. He put down the initial deposit of 11,000
He is refusing to sell and wants to remain in the house and me to move out with our 2 children (sounds awful but he wants to keep their home for some normalcy and I don't want to stay in this house). Can anyone offer any advice on what I am owed financially? Would it just be for half of the mortgage repayments in the 9 years I have lived here? There isnt much advice that I can find online so any help would be massively appreciated
He is refusing to sell and wants to remain in the house and me to move out with our 2 children (sounds awful but he wants to keep their home for some normalcy and I don't want to stay in this house). Can anyone offer any advice on what I am owed financially? Would it just be for half of the mortgage repayments in the 9 years I have lived here? There isnt much advice that I can find online so any help would be massively appreciated
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Comments
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Take the value of the mortgage at the start and the balance of the mortgage now, and find the difference between those.
This is how much capital has been paid off. Half of that was yours, half was his.
Add his 11k to his side. That tells you how much money each of you has put in to the house. Turn that into a percentage split
Find the current value of the house and take away the balance of the mortgage now. That tells you how much cash you would have if you sold.
Split that amount according to the percentages.
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Assuming you are tenants in common, If you did not actually make a deed of trust explicitly setting out the ownership split, then you each own 50% of the equity. If anyone thinks that is unfair, then it is also unfair that he stays in the family home and the OP has to find somewhere for herself and two children to live.2
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