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Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 33324
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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Hi, Am currently going through a separation. Been with my partner

Customer Question

Hi, Am currently going through a separation. Been with my partner for 10 years. 2 children. No real reason for splitting! Anyhow my question is our Mortgage is joint and we both put the same amount down for a deposit. She wants to keep the house and buy me out. She's been told by the mortgage adviser that the only way she can afford to do this is to see 6 months of her income plus tax credits and maintenance, then she'll be able to re mortgage the house and pay me off. Also what do I ask for? is it the amount that I put into the house? do I ask for half of the 6 years of mortgage payments? is it half of the house price? Surely I need a legal document to say that she will pay me, because in 6 months time and she cant afford it, I've just wasted 6 months of rent and time when the house could go up for sale and split 50/50. Never been in circumstances like this. Please help very emotional.
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?
How old are the children and what income do you each have?
Clare
Customer: replied 2 years ago.

Hi Clare, yeah the house is worth £170,000. My partner and I put down £50,000 with an extra £15,000 on building works, new kitchen etc and there is £106,000 left on the mortgage after 6 years of payments. We've been paying £577 a month. She works part time and earns £18,000 and I work full time and earn £24,000. The children's ages are 6 and 3. Very upsetting. Hope this helps.

Expert:  Clare replied 2 years ago.
Hi
How much would a cheaper three bedroom property in the same school area cost to buy?
Clare
Customer: replied 2 years ago.

There's not many on the market right now but in the region of £135,000 to £145,000

Expert:  Clare replied 2 years ago.
Hi
Where did the £50,000 deposit come from?
Clare
Customer: replied 2 years ago.

I put £25,000 in, some from my father and the rest was from my own savings £5,000 was from my grandfather when he passed away. then she put in £25,000, £20,000 from her father and £5,000 was from her previous house where she previously had a divorce from another relationship. We also had a joint savings account where we put in at least £10,000 that went towards the building works.

Expert:  Clare replied 2 years ago.
Hi
Please note that I am assuming that you are not married.
If your ex is able to raise sufficient funds to buy out your interest in the property then she will need to obtain your release from the mortgage and pay you half of the current equity - so approximately £30,000 (having allowed for costs of sale)
However you need to be aware that if she is not able to raise the finds you are unlikely to be able to force the sale of the property until your youngest child is 18 or your ex cohabits
This is because Schedule 1 of the Children Act states that you are under a duty to help house the children until they are 18.
I hope that this is of assistance - please ask if you need further details
Clare

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