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Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34106
Experience:  I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
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Hello there. I've separated from my girlfriend who I had a

Resolved Question:

Hello there. I've separated from my girlfriend who I had a joint mortgage with. I paid £70,000 for the deposit and she paid £10,000. Since then, I've paid all the mortgage and house running costs except for the food bill.
Where do I stand legally regarding how much to offer her to buy her out of the mortgage?
I'm worried she might want 50% of all the proceeds of the house even though she's not properly contributed anything outside of the £10k.
Many Thanks
Submitted: 2 years ago.
Category: Family Law
Expert:  Clare replied 2 years ago.
Hi
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
How much is the house worth and how much is outstanding on the mortgage?
Did you protect your investment with a Declaration of Trust?
Clare
Customer: replied 2 years ago.
Hi Clare
Thank you for your help.
No, stupidly I didn't protect my investment.
The house purchase price was £437,500.
Amount borrowed £373k.
I put down £70k. She put down £10k.
I've paid £2000 pm mortgage repayments and £1000 pm ruining costs for 34 months. She paid good bills.
The balance left to pay on the mortgage is £347,800.
Estate agent fee for selling is £5700.
Estimated sale price £475k but it could be lower. (£450k)
So there is £121k left to split between us.
I think we should take back out initial deposits each (70 and 10k) and I should also take back the £25k capital that's been chipped off the mortgage by my repayments.
That leaves a balance of £13k. Which I'm suggesting we split evenly.
How do I stand legally? Can she insist we split the entire £121k evenly even though I've paid all the mortgage and £60k more than her as deposit?
Many thanks again.
Expert:  Clare replied 2 years ago.
Hi
Were there no discussions at the time about what would happen if you separated
Clare
Customer: replied 2 years ago.
Hi again.
No there weren't.
I didn't think we would split.
Expert:  Clare replied 2 years ago.
Hi
As things stand yes she could indeed claim half of the equity.
You would then have to apply to the court using the Trusts of Land and Appointment of Trustees Act and hope that the Court will agree that you did not actually mean the money you invested to be a gift in any way.
Your suggestion that you each take out the money that you invested is a good one - but you cannot also claim the reduction in the capital outstanding as it clearly was agreed between you that you would pay the mortgage and bills and she would pay for food.
You need to try an negotiate the settlement with your ex - using Family mediation if necessary
www.familymediationhelpline.co.uk
to keep this matter out of the courts
Please ask if you need further details
Clare
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