My partner and Ihave been together since August 2004 (8 years) and living together for 7 of those years. He has said it is over and wants us to seperate. We bought a house together in March 2011. The total value of the house was £400,000. My partner had a deposit of £100,000 of which £80,000 went on the deposit of the house and the other £20,000 went towards the cost of the fees, stamp duty and the rest went on furniture. We have signed a prenup to say that after the sale of the property and after the costs of the fees of selling, my partner will get the first £100,000 and the rest will be spilt 60/40. (Partner/Me) We took out a mortage for £323,000 and the outstanding value of the mortgage is £312,000. We had the properly valued in January and the current value is £460,000. My partner has said he doesn't want to sell but to buy me out of the property, and has said (nothing in writing) that he would buy me out for £17k. (not sure where he got that figure from) We are both currently living in the property and paying the mortgage. What I need to know is the following... What do I need to do? What is the best option for me and how do I find out what I'm entitled to, and am I better off letting my partner buy me out or selling? If my partner doesn't want to sell but it is the better option, how do I go about getting him to sell. Would I be entitled to more because we have been living together for a long period of time? All I want is to be fair and to get what I'm entitled to, bearing in mind that because my partner bought all the furniture with the £20,000 which he will get back if we sell, I really do not own anything! Any information would be useful
If my partner didn't agree with this, what would I need to do next? Would it end up costing me a lot of money to go through this process?
It would be better for peace of mind but I don't have to. I do have friends that I can stay with so I could stay with them, and still pay the mortgage. We havent discussed when I should leave as I haven't spoken to him about it yet....