I’ve never posted on here before so not even sure if anyone can help me but I thought I’d ask if anyone is an expert in this region and I don’t have to pay more solicitors bills.
In 2013 my partner (not married) walked out on me and my son ( was having an affair with co worker) I continued to live in our house which is in joint names and have been paying the mortgage solely ever since. He has since shacked up with the girl he left me for and they have a child together. He now wants to sell the house as he has been renting. This I completely understand and have no intention of trying to make things awkward but at the same time I want to be able to provide a nice home for my son now 8 (& myself)
We bought the house in 2007 for £205000 when he left in 2013 the house was valued at around £175-180k.
Today it’s worth around £220-225k.
I am now in the process of trying to buy him out but because he will not help me with child care I am really limited as to jobs because I can’t work shifts etc. So my earnings are minimum.
Now I’m trying to get him to settle on a figure for a buy out. Would any profits made since he left and I continued to pay the mortgage be mine?
So if I sold on today’s value at say 220 minus the mortgage amount then split 50/50 (even though I’ve kept up payments on my own) we would both walk away with roughly 75k each. But if this was calculate on the value of house when he left his 50% would only be roughly 53k and I could continue to live in the house. I am aware that I would then in theory get more out of it but without sounding bitter because he doesn’t have to worry about childcare he has had free reign to peruse his career and earns my annual salary in about 6weeks so that £50k plus his salary would allow him to get a bloody nice house where as I am not quite in the same position.
So essentially when working out the division would I base this on the house value when he left or today’s value? (Legally speaking this is not morally)
Sorry for waffling but I really am eager to get sorted.
Any advice would be greatly appreciated x