Here is the outline
1. you will purchase a share in the property, Flat 4 Weatherbury,***** Notting Hill, W2 5LF. the share shall be the current market value of the equity in the property + 2%
The property was purcahsed for £340,000 in April 2007
2. Current market value is approximately £700,000 as of Sept 2015 making the equity around £360,000
3. For the sake of this arrangement I will say that the £3,600 is equal to 1%
4. The monthly mortgage is £1070
5. Arrears are approximately £5500 ( including charges)
6. You will pay the next 5 months mortgage monthly on the 3rd of the month 5 x £1070 = £5350 this will end Jan 2016
7. You have paid £1070 in August 2015 meaning that there are only a remaining 4 months to pay.
8. You will pay a sum of approximately £3000 towards the areas this week with the balance to be cleared in the following two weeks.
9. A sum of £1200 will be paid at a date to be agreed in the next month, taking the investment promised to £12,000 or 3.5% of the current equity value, which will give you a 5.5% sake in the equity if and when the property is sold.
10. I will draw up legal binding papers in the next month.
11. You can invest more if you wish up to a value of 10% equity in the property if you wish.