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Harris
Harris, Family Law Expert
Category: Family Law
Satisfied Customers: 1918
Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
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Civil partnership split up. Have a joint mortgage with monies

Resolved Question:

Civil partnership split up. Have a joint mortgage with monies still to pay. One partner (A) filed bankrupt a few years back and paid no contributions. Last two years have been contributing. Partner A is claiming to be bought out of mortgage. Just wondering if the contributions wernt consistent throughout the mortgage history and was also remortgaged how this would effect partners B financial situation and if she needs to buy partner A out of mortgage.
Please help
Submitted: 8 months ago.
Category: Family Law
Expert:  Harris replied 8 months ago.
Hi, thank you for your question. Just a bit more information required to fully assist:-How long has the partnership been in place?-Immediately prior to the partnership, did parties cohabit, if so for how long?-Do they have children, if so their ages and arrangements?-How much is the home valued at and what is the outstanding mortgage?-What other assets do they both have?-What are their respective incomes?
Customer: replied 8 months ago.
They have been together 21 years in the house about 20 years approximately.
The home is approximately valued at £280,000-£300,000, no biological children involved.
Jobs are partner A £60,000 and partner B £33,000. Assist wise I'm not 100% sure nothing nothing like other homes etc.
Expert:  Harris replied 8 months ago.
Thank you - how much mortgage is outstanding?
Customer: replied 8 months ago.
Roughly £125,000.
They have in the process remortgaged at least once might be two times. partner A is mid 40's and Partner B is late 50's
Expert:  Harris replied 8 months ago.
Thank you. Given the length of the partnership and cohabitation, the court will consider it long and therefore in relation to the finances the main thing the court will consider is the needs of both parties and how their needs will be met. If they cannot agree a division themselves, the court's starting point will be a 50-50 split of all matrimonial assets. Due to the length of the partnership it will be hard to argue that the recent contributions by one of the parties should solely impact the division.I hope this assists you. If you found this information helpful please provide a positive rating. I will not be credited for answering your question without a positive rating. Thank you
Harris, Family Law Expert
Category: Family Law
Satisfied Customers: 1918
Experience: Family Law - Specialist in Divorce, Financial Relief and Children Matters
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