Joint mortgage. Not married, Separating. Ex claiming half. Advice please.
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mric2000
Posts: 48 Forumite
Hi,
I'd appreciate any advice anyone can offer on this situation so I know where I stand, before arranging to discuss further with a solicitor, if required.
I am separating from my girlfriend and we are have a joint mortgage, which is the area of contention. I paid the 25% deposit and have paid approximately 80% of all domestic bills (inc. mortgage) for the 5 years that we have lived here. The house value has risen approximately 25% in that time.
My ex is suggesting that Family Law advisors and Benefits advisors, as well as friends tell her she should be pushing for half of the house, when sold. We had unofficially got to a verbal agreement that she would have half of the remaining equity after the mortgage and selling costs had been paid off, along with me getting my full deposit (+25%) back in addition to all the costs I covered for the purchase (solicitors, mortgage fees etc).
She has now back peddled and is saying she thinks she should be getting half of the house, once all mortgage and selling fees are taken out - including the deposit.
Her situation is driven primarily by the fact that her work is part-time and doesn't pay her a great deal, so she would be dependent on benefits support. She believes that the various benefits departments would refuse her any support if she didn't get half the complete house sale, as she is on the mortgage she is a joint owner, so in their eyes she has equity.
We can't take her off the mortgage as that would by all accounts reflect badly on her financial situation and they would see that she voluntarily accepted to take less than she was due, so would deny any benefit support.
My suggestion is that we come to an agreement where she would have half (or almost half TBC) of the proceeds after deductions (outlined above) and the benefits department have no argument to say she MUST have half the house.
Can anyone advise on this?
What is she entitled to?
Is there a strong enough case for me to make sure my deposit and additional costs all come back to me?
Are the benefits departments likely to accept that we had an agreed settlement and it won't affect her standing that she didn't take half the house?
All and any advice is very gratefully received.
Thanks in advance!
I'd appreciate any advice anyone can offer on this situation so I know where I stand, before arranging to discuss further with a solicitor, if required.
I am separating from my girlfriend and we are have a joint mortgage, which is the area of contention. I paid the 25% deposit and have paid approximately 80% of all domestic bills (inc. mortgage) for the 5 years that we have lived here. The house value has risen approximately 25% in that time.
My ex is suggesting that Family Law advisors and Benefits advisors, as well as friends tell her she should be pushing for half of the house, when sold. We had unofficially got to a verbal agreement that she would have half of the remaining equity after the mortgage and selling costs had been paid off, along with me getting my full deposit (+25%) back in addition to all the costs I covered for the purchase (solicitors, mortgage fees etc).
She has now back peddled and is saying she thinks she should be getting half of the house, once all mortgage and selling fees are taken out - including the deposit.
Her situation is driven primarily by the fact that her work is part-time and doesn't pay her a great deal, so she would be dependent on benefits support. She believes that the various benefits departments would refuse her any support if she didn't get half the complete house sale, as she is on the mortgage she is a joint owner, so in their eyes she has equity.
We can't take her off the mortgage as that would by all accounts reflect badly on her financial situation and they would see that she voluntarily accepted to take less than she was due, so would deny any benefit support.
My suggestion is that we come to an agreement where she would have half (or almost half TBC) of the proceeds after deductions (outlined above) and the benefits department have no argument to say she MUST have half the house.
Can anyone advise on this?
What is she entitled to?
Is there a strong enough case for me to make sure my deposit and additional costs all come back to me?
Are the benefits departments likely to accept that we had an agreed settlement and it won't affect her standing that she didn't take half the house?
All and any advice is very gratefully received.
Thanks in advance!
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Comments
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How much did you pay for the house?0
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In the absence of a Declaration of Trust setting out what will happen in the event of a relationship breakdown then legally, as a joint owner, she is entitled to half the equity.0
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Purchase price 240k
Expected Sale price 300k
Deposit from me 60k
Monthly payments (inc bills) 800 from me, 200 from ex. Although these payments have changed slightly over time.initially we were splitting all costs and during the 5 years we had a baby, so I wouldn't have expected her to be paying through the pregnancy and maternity leave.0 -
Including the deposit??Purchase price 240k
Expected Sale price 300k
Deposit from me 60k
Monthly payments (inc bills) 800 from me, 200 from ex. Although these payments have changed slightly over time.initially we were splitting all costs and during the 5 years we had a baby, so I wouldn't have expected her to be paying through the pregnancy and maternity leave.0 -
Purchase price 240k
Expected Sale price 300k
Deposit from me 60k
Monthly payments (inc bills) 800 from me, 200 from ex. Although these payments have changed slightly over time.initially we were splitting all costs and during the 5 years we had a baby, so I wouldn't have expected her to be paying through the pregnancy and maternity leave.
Forget the bills.
I agree with pixie. You need to be able to prove the intention was that your 25% deposit was ‘yours’.
Unless you’ve got a DoT in place it’s going to be pretty difficult to argue that.0 -
The get your money back(rather than your deposit buys equity) is the same as an interest free loan for 1/2 the amount.
Hold your ground on that if that was what was agreed at the start.0 -
Would suggest that once you sell, from the profit, you both take out the amounts of the deposit you paid in, and then split the profit.
The 25% gain, needs to be shared it will seem fairer. You didnt put the deposit in, on an expectation of taking the 25%. If the house had dropped in value, you would want the deposit back in full I suspect.... who wouldn't.0 -
Who will be the parent with care following your separation? If it isn't you then I think you'll be lucky getting 50%. Kids are expensive to raise.0
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TrickyDicky101 wrote: »Who will be the parent with care following your separation? If it isn't you then I think you'll be lucky getting 50%. Kids are expensive to raise.
I am assuming that the partner has put a lot more into the raising of this child so far, both in terms of actually being pregnant and through maternity leave.
On some of the logic In this thread it therefore seems ‘fair’ that the partner gets more custody rights going forward than the OP does.
I’m not sure that that would be fair though and I guess the OP would agree.
Swap child for house and pregnancy/maternity for deposit though and suddenly it’s a different story....0
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