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Alex J.
Alex J., Solicitor
Category: Law
Satisfied Customers: 3695
Experience:  Solicitors 2 years plus PQE
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Hi, I bought a house with a partner 18 mths ago. I put down

Resolved Question:

Hi,

I bought a house with a partner 18 mths ago. I put down £47,000 deposit and he put in £3000.
We have had an offer on the house as we are selling and going our separate ways.
We have made £130,000 profit
Now, we always agreed if we split that I would take back our deposits and split the rest 50/50 but I've been advised that I should be untitled to more as I had a higher stake in the house. We have both been paying of the mortgage equally.
Please help as I'm quite confused now!
Submitted: 3 years ago.
Category: Law
Expert:  Alex J. replied 3 years ago.
Hi,

Thank you for your question and welcome.

My name is ***** ***** I will assist you.

If you have contributed £47k and the property has gone up by 10% in value. You could argue that there has been a capital appreciation on your share of £4,700.

The problem you have is you have both serviced the mortgage equal and you said it was always agreed that once the proceeds of sale come in and the deposits are returned you split the balance 50/50. Therefore say you had to prove it in court, it would be difficult because you had already agreed this principle.

Practically what do you want to do? Do you want a greater share of the money? Or do you want to stick to your original agreement?

Kind regards

AJ
Customer: replied 3 years ago.
If I am untitled to it I would like a greater share. I'm just not sure what the fair thing is to do as 50/50 seemed right as we were paying the mortgage together. However there wouldn't have been a mortgage without my greater deposit
Expert:  Alex J. replied 3 years ago.
Hi,

Thank you.

The problem is you have admitted there was an agreement in place.

On that basis it would be near impossible to prove in court anything to the contrary.

You have also been paying the mortgage equally so and capital repayments would have to be split 50/50.

The only way you could obtain a greater share is if your partner agreed to it, as it is highly unlikely a court would over turn you prior agreement.

Kind regards

AJ
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