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Category: Law
Satisfied Customers: 35013
Experience:  Barrister at Self Employed Barrister
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My partner and I own a property together but we have decided

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Hi, my partner and I own a property together but we have decided to end the relationship. He would like to buy out my half of the mortgage and I don’t know how much I am entitled to or how much is a fair offer. I don't understand how to use this website yet so I will just write down my story.
We bought the house for 395000 over 30 years with a 60000 pound deposit.
I have paid my half of the mortgage of 650.00 in mortgage repayments from November 2016- 01 may 2018.
I have paid 2500.00 in over payments.
I have paid 2500.00 into the garden.
I have paid 6000 in decorations and paint.
I have paid 2000 for fitted wardrobes.
He family has paid 60000 for the deposit.
He paid 10000 in stamp duty.
He would like to buy me out of my half of the mortgage.
How much am I entitled to ask for?
He has an income of 70000 pounds per year.
As I am a student nurse, student finance gave me 7000 for the year due to his high income assuming he would
compensate for it.
He did not and therefore I work two jobs and my dad has helped give me 1000 per month to survive for the last 9 months. My parents would like that money back.
Can you please advise how much you think I am entitled to and how much you think is appropriate amount of money to ask for?
thank you
Are you married? Did you ever enter a share agreement for the house?
Customer: replied 10 months ago.
We are not married. The house is divided 50/50
If the house is divided 50-50 the court would start on the basis that this is the expectation for the division on the basis of a reasonable valuation of the property. There is an argument that expenses occurred by both of you (deposit, stamps duty, overpayments etc) you be taken off the figure and reimbursed where possible before the 50-50 split.
As you are not married you are not entitled to any maintenance just the money owed.
Customer: replied 10 months ago.
What do you mean by maintenance
A monthly sum to compensate you for the relationship. But you are not entitled to this as not married. Happy to discuss and please rate for my time.
Customer: replied 10 months ago.
I would like to discuss. how does this work
Just ask questions
Customer: replied 10 months ago.
how much does it cost
Customer: replied 10 months ago.
how long can I ask you questions for
I’m not charging more than you’ve already agreed but please rate for my time
ivorylounge and other Law Specialists are ready to help you
Customer: replied 10 months ago.
Okay sorry
Customer: replied 10 months ago.
what steps do I take from here? He has agreed to cover the mortgage from the 01/06 so that I can rent somewhere else. What steps do I take to come up with a figure that I would be happy with for him to buy me out?
Customer: replied 10 months ago.
Do I ask for 10000 for the furniture + 2500 for the garden + 2000 in overpayments + 2000 for the wardrobes + 6000 on renovations? This equals 24500
Customer: replied 10 months ago.
Then do I ask for the house to be valued and if it has gone up from 395000, divide that in half and ask for half of that?
You need to get the property valued. You would ask for your share of any value increase and the other items as set out above
Customer: replied 10 months ago.
it has now been estimated to be 421000 so that is 26000 so half of this is 13000 so in total, do you think a fair offer would be 37500? or am I not understanding? He works for the financial conduct authority so unfortunately he has a
Customer: replied 10 months ago.
okay, so there is nothing else that I am entitled to?
I would always go high in any event and negotiate
Customer: replied 10 months ago.
how many times should I have the house valued?
Customer: replied 10 months ago.
what happens if the house value has decreased?
Customer: replied 10 months ago.
also what happens if we cannot agree and this goes to court?
Customer: replied 10 months ago.
what happens to any solicitors fees if it were to come to that?
I would normally get it valued either twice or three times and agree the mean figure. If you can’t agree it would have to go to court. If it’s decreased you either do a deal now or potentially agree to wait.
You would usually be liable for your own fees
Customer: replied 10 months ago.
is there anything else that you think that I should know? I understand that that is a very open ended question and it is not your responsibility just as I said I am a 26 year old student nurse that hasn't done this before.
Customer: replied 10 months ago.
am I entitled to any mortgage repayments that I made over the last 18 months?
Customer: replied 10 months ago.
with regards ***** ***** website, if I think of any questions say, tomorrow, am I able to contact you again? or is it then a specific time frame for a certain fee?
It’s all a matter of negotiation and what you can get from him
Customer: replied 10 months ago.
for small things in the house, for example photo frames, nick knacks, cook books, pots, vases, paintings on the wall,etc . which I have paid for, am I able to just take those when I move out? or will all of those things need to be negotiated on as well?
Customer: replied 10 months ago.
i consider those things personal items
You would be able to take those. They’re yours
Customer: replied 10 months ago.
okay thank you. How do I get in contact with you and how much will it cost if I want to speak to you tomorrow if I have any more questions to ask you?
If you just list for a phone call
Customer: replied 10 months ago.
Okay thank you. That’s all for now. Is there anything I need to do for u
Customer: replied 10 months ago.
I have one final question
Customer: replied 10 months ago.
What will happen with stamp duty? Will there be another lot of stamp duty to transfer over the mortgage to him solely?