help to buy mortgage buy out

gingermoggy62

H2B Equity Loan percentage 20%

MWT

gingermoggy62 said:

H2B Equity Loan percentage 20%

So with current value £255000,mortgage outstanding £141000 and 20% equity loan that gives you the following:

£255,000 x 20% = £51,000 equity loan

So £255,000 - £51,000 - £141,000 = £63,000 current equity.

70/30 split leaves her paying you £18,900 to walk away, on the assumption that the original deposit and all mortgage payments were also split 70/30 between you.