Fair share of the property

[Morello339]

Hello,

I will keep this as brief as possible. I am looking for legal advice.

3 years ago my partner came home and told me he had met someone else. He told me I had to leave our house ( which we bought together) because I couldn't afford the mortgage payments alone, and he could. I didn't think this was fair, but he refused to consider selling and couldn't get a mortgage alone to buy me out. Because of Covid I haven't really been prioritising the whole situation, and 3 months ago he asked to remove me from the mortgage when he renews.

He offered me some money and basically just told me to sign.

I was advised to get the paperwork checked over (even though I just wanted out and he told me there was very little equity)

My solicitor has been through the paperwork and says I am entitled to £15,000 more than his offer which was a third of that.

He is now threatening me with legal action if I don't accept his offer as I haven't contributed towards the mortgage for the past 3 years (by his choice as he wanted me away from the house, but not off the mortgage as it benefitted him).

He is basically saying he doesn't have any money to up his offer as we won't be able to get a mortgage without the money I am asking for. He has also threatened to walk away from it, and destroy both out credit scores and leave the house vacant.

I know it all sounds very petty so I'm asking, purely on legal grounds, am I entitled to equity accrued while I didn't contribute?

My solicitors view was 'he used you to stay on the property ladder, why should you now get off in order for him to stag on'. Which makes sense.

I believe that whilst you’d didn’t pay the mortgage, you weren’t living there so he was paying your share of the mortgage in lieu of rent to you to have exclusive occupation.

If he’s unable to buy you out then the only option will be for you to sell the property to realise the equity. Alternatively, you could mention that since it’s still your house, you’ll have no other option but to move on. Assuming there’s an OW there, she’ll help focus his mind on getting your equity out!

Listen to your solicitor.

I am presuming you are not married as you say ‘partner’?

Anyway, listening to your Ex isn’t going to be good advice. He sounds really nasty and totally selfish.

I'd agree you were entitled on the basis that 'he couldn't get a mortgage alone to buy me out'.

So had you forced the sale of the house or the situation, he would not have had the opportunity to continue to accure that equity.

Did you buy as joint tenants, or tenants in common?

Did you put in equal amounts of deposit?

You are entitled to be paid the full 50%. He asked you to go so he must cover the whole mortgage until sale. He doesn't get credit for paying off interest, but will get credit for post separation capital repayments.

We were never married, just together since we were teenagers, bought a flat together young.

Thank you all for your advice. I have forwarded his email threats to my solicitor. He has refused to pay service charges on the flat, or the bills and says this will impact me too. He has written this all down in an email. Surely ' accept my lower offer or I will destroy your credit rating' is blackmail of some sort ?

If he stops paying the mortgage he will destroy his own credit rating in the process.
If he won’t offer a sensible price for your share of the equity then apply to the court for an order for sale.