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taking a name off a mortgage...advice/suggestions here please

(15 Posts)
J2O Wed 06-Aug-08 23:49:23

Basically a couple bought a house 2 years ago, he was working full time and could have got it in his name on his wage, but both names went on, she was a full time uni student and worked part time.
he payed the mortgage and most of the bills and she contributed to the bills.
2 years down the line they have split, the house has been valued at £15,000 more than what they originally paid, so if he wants to buy her house and take her name off the mortgage, what is amount is legally/morally fair to offer her?

gastronaught Wed 06-Aug-08 23:53:29

Half the equity, with out her he would not of been given the mortgage.

J2O Wed 06-Aug-08 23:54:58

he would have been given the mortgage, he put her on it because she said if he didn't then she didn't love her..etc

J2O Wed 06-Aug-08 23:55:26

sorry i mean he didn't love her

gastronaught Thu 07-Aug-08 00:02:40

Sorry, I read it as he could NOT of gotten it without her. Personally I would still offer her half the equity. Although if it was me, I a) would not of thrown her tantrum, b) would not take half the equity.

J2O Thu 07-Aug-08 00:08:37

the only thing is, he can't afford to give her all of it, they already came to an agreement of £4,500 with him paying an extra £900 solicitors/admins fees, then she found out about his new gf (me) and kicked off, so they eventually agreed to £5,00 plus the £900, he has already paid £200 in solicitors charges, and then because she saw us together she has thrown another wobbler. He is already going to have to get a loan and sell his car to pay what they have already agreed on.

I am trying to be impartial, but am really struggling to be!

BrownSuga Thu 07-Aug-08 00:11:29

Get a cheque cut for £5k. Get the solicitor to ask her to sign over the house, show her the cheque. She doesn't get it until she signs.

Best not be seen with him in the meantime, in case she asks for more!

J2O Thu 07-Aug-08 00:15:05

thanks everyone. its all gone through apart from waiting for her to sign the solicitors papers, it took long enough for her to write the first bloody covering letter, i'm just getting so mad having someone i don't even know affecting my life, she seems to like playing silly games, wheras i'd just want out myself, and to walk away with £5,000 at 21 is pretty decent imo.

J2O Thu 07-Aug-08 17:56:52

does anyone know the legal aspects of this?

fridayschild Thu 07-Aug-08 18:39:38

Not a family law specialist but I would guess that what she's been offered is more than generous.

Whether that takes you any further forward is another point entirely.

J2O Thu 07-Aug-08 19:33:30

thank you fridayschild, i'm just wondering if anyone has any idea how much he'd have to pay if it went to court? i know she wants to try mediation, but then she wont have to pay for it, he will

J2O Thu 07-Aug-08 21:19:14


No idea on legal aspects. Was it 100% mortgage? If not, who put down deposit?

FloriaTosca Thu 07-Aug-08 22:49:27

Sorry can't help on the legal side of things but I have twice before now shared a mortgage...
First time with a school friend while I was still at uni, we got the 95% endowment mortgage on the basis of her earnings but equally shared deposit, mortgage & bills ...when I needed to move away 4 yrs later we agreed on me signing the endowment and house over for 50% of the equity which she paid half as lump sum and half in monthly intallments for a year, she paid the solicitors bills...
The second time was with my brother, 75% mortgage backed by 2 endowments for 50% of the value (one for each of us)on the basis of joint earnings, equally paying mortgage and bills...when I met Dh and moved out I continued to pay my share for 12months until bro decided that he wanted to buy me out, he remortgaged for 50% of the equity and we shared the solicitors bills....
I got half because I paid half of everything, I think she is doing very well to get 33% of the equity just for contributing to the bills! I would suggest a visit to citizens advice for professional legal gut feeling is that she shouldn't have much of a case if he can prove that he paid for everything...(or perhaps I've watched too much Judge Judyblush)

J2O Mon 11-Aug-08 10:27:56

thanks FT, personally, i wish he'd just sell it, but not really any of my business.

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