Separating from partner - mortgage transfer costs??

[HCHQ]

In a nutshell we are separating and as such he is buying me out of my share of the house.

Please can anyone tell me how the costs of the transfer is calculated?? Thanks.

Not quite sure what you are specifically asking here, the cost of the legal work or how you work out how much to accept? For the cost of the legal work contact a local Conveyancing solicitor for a quote. For the amount he will need to pay you it depends on too many factors for anyone on here to be able to tell you. First thing first you will need to have the property valued then calculate how much deposit you each put in, how much the property has increased in value since you bought it so how much equity has been accrued and how much you will accept for him to buy you out. An example would be valuation - original deposits - current mortgage outstanding = divisible equity. But there are other things you need to take into account such as length of marriage, whether you have children etc etc so you should speak to a family law solicitor.

You need an agreed financial order on your divorec - a consent order which covers all outstanding things - not just the house. That will then be sealed by the court. It can cover who will pay which costs too. Eg I paid my husband's and my legal costs and the costs of house transfer into my name as I earned a lot more than he did.

Do check stamp duty land tax rules very carefully as I think there are some important timing issues if there is a mortgage - i.e.do it quickly.