Separation advice

[MumofOne28]

Hi everyone, I have also reached out to a solicitor but wondered if anyone has had experience of this and could help me please.

I haven't split up with my partner yet but I just wanted some advice about what would happen to our joint mortgage if we split up. We moved into our property in 2015- I funded the deposit and I have solely been paying the mortgage since then. He pays utility bills. He also owes me £20,000 which I funded for his business set up.

In my head, if the relationship did end, we would split the equity as he hasn't paid towards the mortgage, minus money we have put into the house (and obviously taking into account the money I gave him). I also have a child with him. Will it work like this if it went through solicitors or would he need to agree with this?

Did you ring fence your deposit? How is the house owned?

If you aren't legally married, if you can amicably agree a settlement, then it's up to you. The court will typically rule 50/50 unless you have taken legal steps to ring fence investment etc.

you say partner do I assume you are not married?

Are you joint owners? If so, joint tenants or tenants in common?

Assuming Joint tenants (the most common form of joint ownership) then unless you agree otherwise both of you are entitled to 50% of whatever’s left from sale of the property. If you wanted to stay then you would have to buy your partner out and become the sole owner subject to agreement from your lender. Since you are paying the mortgage in full this doesn’t seem difficult but you would have to come up with the ££ to pay your partner.

Your plan would have to be agreed. If I was advising your partner I would not agree to less than 50% of equity based on the assumptions I have made.

But he pays utility bills, so is contributing to the cost of running the home? Depends on the size of mortgage, but those bills are often Close to a second mortgage repayment per month.

it depends how you divided it up

Was the loan documented? Can you otherwise prove it? Was it to a limited company or to him personally? Again, unless agreed between you, this aspect is entirely separate from the situation with the house.

If the house is jointly owned then you own 50% each unless you legally assigned ownership differently, or you are married.

you would need to establish the basis of the £20k. Was it a loan if so what are the terms? Was it an investment, again what are the terms. Or was it a gift?

best speak to a solicitor about where you stand legally.