Being bought out of property

[Soblueithurts]

Hi can anyone give me some advice if you have been in a similar position. My ex and I are still living together in our jointly owned home and have decided that he will buy me out of the property, however I’m not sure about what steps now need to be taken. Do we first contact the bank and get them to agree this? And then solicitors?

He will need to remortgage and you transfer the equity to him. He will pay you off at the same time. (If applicable) If he contacts a broker they will advise him, and it will depend if the banks think he can afford the mortgage on his own.

You will need your own solicitor but it should not cost too much.

I went through this last year. Had the house valued by 3 people so I knew the figure we were playing with. He then had to get a mortgage and bought me out.

I was too nice and took a cut so he could stay. He turned awful so don’t settle for anything less than fair