My husband and i bought a house in 2009 for £335,000 which was bought with a 70,000 mortgage in both our names but I put in all of the money.
With inheritance the outstanding mortgage in now just under £40,000. The house is now worth about £370,000.
We will be selling the house and i will be buying our next house 100% in my name, which in hindsight is what i should have done when i bought the house we currently own as it was with family money that my family are keen i protect.
So I need to work out exactly what my husband is entitled to from the sale of this house. He has paid some money towards the mortgage but only since 2011 and has put no other money into the house. Would I need to pay him a % of the profit from the sale of the house and his contributions to the mortgage back?
We are not splitting up but wish to correct what we should have done when we bought the house. What is he entitled to? Many thanks
we have been living together for 7 years and married for 5.
we have no children.
yes he is