We bought the house in October 2013 for £107k. Due to bender wanting a quick sale we bought at a really good price. It's a 4bed semi. Only needed a mortgage for £78k due to our deposit, less 7 monthly payments current mortgage approx £75-76k.
A 2 bed in this area approx £80k. I would need to move to a 3bed as also have a 7 year old son from previous relationship.
My partner released equity on his other property & put down a £30k deposit. We have a joint tenancy mortgage.
I had a look online yesterday, 3bed terrace house from 69k.
I could afford to live in our current home on my own but I don't know if I could afford to buy my partner out.
What do you mean by how much mortgage could I raise? Do you mean in relation to buying a new home? I really don't have any idea? What would give an indication of this?
I've put all my savings into this house: new boiler, rewired electrics, New carpets throughout & new fitted kitchen. However, next door has just sold for 115k & that's 3 bedroomed. Maybe we could get 120-125k for this one, but that's just guess work without an actual valuation.
Do I not have any rights to ask him to leave & I remain here with the kids until they at least complete school or is that 'old school'?
I'm salaried at £27k per annum, partner approx £340 take home a week
No not married