I know I'm not but just want it confirming :) regarding ex and mortgage

[girlfromthemoon]

So me and an ex bought a house about 14 years ago, we broke up after approx a year and he moved out and I took on the mortgage for a few years, then I moved out and he moved in and took over the mortgage (there was negative equity in the house and neither of us could get a new mortgage in our own name)

He has lived there and been paying the mortgage longer than me overall by a few years.

I contacted him recently and said it was about time we sorted it out, he is married now and I am wanting to look at a Morgage alone in the next year or so.

As far as I'm concerned I am more than happy for any equity to be shared fairly ie 70% him 30% me to reflect his longer time there

But he's being a bit of a dick about it, he hasn't said this but I can tell he thinks I'm being cheeky asking for any equity as he has lived there for a while now

He wants to sell it too so it's not like I'm forcing him to do something he doesn't want to do

I'm not bu to feel entitled to some equity am I?! I just want it to be fair for us both

Also, he can't do anything without my agreement can he? And what would the law say regarding this if we've both paid in different amounts?

He's a fairly decent guy but money always did turn him into a bit of a knob so I'm concerned he's going to make it difficult or try and screw me over somehow

You own it 50/50, so it should be split this way.

He would have the house now if you hadn’t stayed paying the mortgage for 4 years, you’d have a debt between you, regardless of him being there 8 years and sitting on your equity

It should actually be 50/50 split as you’ve both put in a fair share to this story and both should be paid out equally

Op your doing yourself down- he wouldn’t be in the position he’s in now without you

If he were to stop paying the mortgage today would to be liable to pay it? If so it’s got to be 50:50.

It's 50/50, do not accept anything less.

He's had sole benefit to the property for longer than you, which didn't benefit you as I'm presuming you had to pay to live elsewhere. I'll see if I can find I link to the thread when I wake up properly...
Just been through the same thing, with my ex in the property for ten years. He claimed he had more rights than me. He didn't.

Tell him that the moment he moved in he saved on paying rent elsewhere as you are paying now, suggest you move in to make things fairer before thinking of selling in few years time

Have you got a valuation, I think you mentioned £20k increase, to be honest once the costs are deducted (estate agent fees, solicitor and any remedial work needed for the sale) there won't be a huge amount, as properties are selling you may drop the price as well ... agree a d St plot based on number of years you exclusively paid the mortgage 1/3 to 2/3 it seems

If you hadn't agreed to stay there you'd have both walked away 12 years ago with a debt. The only reason there is equity to split between you now is because you kept that mortgage going in the first place, so you are morally and legally entitled to half.

Can you speak to the CAB for free? Also some solicitors have a free hour that you can see where you stand (obviously no letters or anything) YANBU at all from where Im standing

After eight years, I’d just let him have it

This is said by someone who is either;

A- so loaded they can throw large amount is money away
B- Not very clever with money or
C - the ex husband...

I'm pretty sure if his partner has been contributing to any mortgage payments, then she could be entitled to some of the equity too.

50/50.

Agree with everyone else that you paid rent, therefore it’s fair.

I was also going to suggest that you move back in for four years!

If he did overpay on the mortgage or renovated, that would have been foolish as it’s a house he jointly owes with OP.

Fight for your share.

Tell him the offer of 70/30 is time limited. Give him a deadline to accept it and agree a deadline for the house to be sold. Tell if he doesn't accept your offer you will go down the legal route and take the 50/50 you are actually entitled too, start saving to see a solicitor to find out your legal position.

50/50. He rented to you and then you rented to him. Does he think he is entitled to all the profit because it happened to come out of negative equity during his rental period. You seem OK with 30 so if you want you can say it's 50 but you will take 30 cos youre nice and if it goes to court you will both end up with less.

This is a very complex area of law. As the home is jointly owned you would normally expect a 50/50 split. However, he may be able to argue that, when you moved out and he took over the mortgage, there was an expectation that he was entitled to a larger share of the property.

One thing is for sure. The fact that the property was in negative equity when you moved out is irrelevant.

A solicitor would want rather more information before deciding whether 70/30 was a fair split in this case.

I'm pretty sure if his partner has been contributing to any mortgage payments, then she could be entitled to some of the equity too.

If she splits with the OP's ex she may be. However, that is not relevant when determining how much the OP is entitled to.

What further information would the solicitor want PH ?

I definitely would see a solicitor. Some offer a free consultation. It would get you more money in the long run. I personally think you should get 50 50 as you both own it, and would be the same no matter who lived in it.

I think before you start worrying about legal advise just have a frank conversation with him. Bottom line it I think you are being very reasonable. In my eyes you are entitled to a % that is in proportion to what you paid. Regardless of him being there for 8 years it has to be taken in to account that for the time you were together you contributed half to the mortgage and then you paid it on your own for 4 years. So I would push for 65/35.

Find out what his thoughts are and maybe you can come to an agreement (in writing) about what you will be owed :)

I do think you're entitled to something. I always try to be the 'good guy' in situations like this so would try and reason with him and hope you can appeal to his better nature. He would've had to pay rent and you have had to.
You could always speak to citizens advice and see what they have to say.

50/50 is the legal position.

Who pays/paid the mortgage is irrelevant as it only 'earns' the right to occupy the property, not to accrue any further legal ownership of it.

Consider the position of a BTL tenant - they pay the whole of the mortgage (and often an excess) but accrue no legal ownership of the property.

The things that count are:

Contribution to the purchase price
Contribution to any home improvements
Express (or implied) agreement as to ownership at the time of purchase.

This area of the law (Implied Trusts of the Home) is on the surface of it really quite unfair. PP have made notionally sensible points about the negative equity/who has paid more of the mortgage but they are not relevant point from a legal standpoint.

Can you borrow the money for legal advice from somewhere? It will likely cost you a few hundred pounds, but will almost certainly result in you walking away with £15-20k of the equity.

50/50

The one of you that wasn’t living in the house would have had to pay housing costs elsewhere.

The value when you moved out is irrelevant. It is a jointly owned property with equal legal ownership.

He may have paid the mortgage for a longer period than you did, but you had housing costs elsewhere whilst he was living in ‘your’ house.

What further information would the solicitor want PH

Off the top of my head, exactly how long each of them lived in the house, whether the mortgage was interest only or repayment, how much of the capital the OP and her ex had repaid, their respective contributions to the original purchase price, how much each of them contributed to any home improvements (not just decorating - cosmetic improvements are not relevant) and anything else that could establish an express or implied agreement regarding the proportion of the property owned by the OP.

you had housing costs elsewhere whilst he was living in ‘your’ house

That does not affect how much of the equity the OP is entitled to. His housing costs while he was living elsewhere don't enter into it either.

I'd say 50/50 as you had to pay your rent whilst he was living there. Otherwise he should have been paying rent to you.

That said, I'm not a solicitor so no idea of the legal position but in your discussions with him, this is what I'd be asking for. I also agree, if it were negative equity, then I imagine he'd expect you to share it 50/50.

My ExDH and I own the property I live in jointly. I basically pay him half the market rent for his half of the property (he paid the 50% deposit in cash) so that he can live elsewhere. I pay the mortgage on the other half of the property also. This was fair to both of us as his money is tied up in my house.

If he's been living there then he owes you rent!!

You should definitely take 50%. You own half the house.

50/50. Pretty sure that's what you are entitled to you don't have to take less. Unless you agreed otherwise when buying it, you get 50%. If he's being problematic about getting 70%, sod him and take 50%.

but will almost certainly result in you walking away with £15-20k of the equity.

There is no equity unless there is a sale. There is potential for equity post a sale but that is a very different thing.