Getting the house

[Vickyglitz]

We are going to get divorced and have a one year old. Own marital home jointly. It is worth about 600k and about 400k is outstanding on the mortgage. Mortgage is 1500 a month and I can afford to pay it on my own. I want to keep the house. When they say I have to "buy him out" what does that really mean? Do I have to pay him £300k worth or just split the equity with him?

Split the equity.

Your equity is £200k so you'd have to buy him out for £100k

Equity. So assumed 50% ( which it might not be) would mean you owe him £100k to buy out his share so you’d need to be able to raise that plus pay the mortgage. Also the mortgage lender would need to assess your earnings to mortgage ratio - just because you might be able to afford the mortgage repayment doesn’t automatically mean you’d be approved for the mortgage

You need legal advice to ensure fair outcome do make sure you seek it