Help with ex, getting bought out of our house (so i can be free)
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Afternoon lad's
Hopefully this is my last stupid message to do with the crap in my life.

Luckily when I left my ex the house we have a mortgage on was being rented out so I was't left with anything to pay on the house as the rent covers all the cost's.
With wanting to cut all ties we have decided that her buying me out is possibly the best/quickest option.

When we were together she always had a better paying job and because of this in her email to me she's offering me 22% of the profit ( value we'd get if we sold after mortgage). It's not mega money but she's taking the piss. I'm willing to split 40/60 to get away and start fresh again although the housing market hasn't recovered in the area where my property is.

Has anyone had a similar experience of can offer advice? I'm currently waiting to see my bank and have an appointment with citizens advice in the morning.

Hope it makes sense as.

Adrian

Hi, where did she get the figure of 22% from? I suppose if shes buying you out you can escape fees that she'll be paying but is that 28% value??

I had to sort out my mortgage from mine and my ex's name into just mine.. it was pretty much selling it from ours to mine in there eyes? It wasnt just as simple as just removing her name it was a fresh mortgage...

I hope you get some good advice and cut ties nicely and swiftly.. its not nice

1. Go see a mortgage advisor to ensure you can afford a mortgage on your own, as above you will have to start a totally new mortgage

2. Then go and see a good brief, 22% my arse shes taking the piss.

This is straight Forward tell her its 40/60 to her or you go to court and you get 50/50 simple as, she it trying it on so don't be a fool sweat her out. 60% to her she wants to think herself very lucky. Your on a winner! . ... then get on with your life.

Hope this helps

Its not as simple as you get 50/50 thats not the way the law works.

Its whats considered "fair".

So the assests you put in.. Then whatever else on top.

It seems realistic to do it relative to your wages. But I dont see her earning 4 times as much as you.

Figures from £115000 value of house (loads of local new builds so prices haven't increased much)
Mortgage value is £88000 so the difference of 27000 shud be divided.
But she's claiming 15000 was over payments then divide the rest, so I get £6000.

To top it off I've just got out of the bank where a bloody gorgeous girl has suspended our joint account (where rent goes in then then expenses out).
She's just fucked me over, and not the way I was hoping.
Now we (not that I talk much to my ex) have to set up a new account and arrange all that.

It makes sense what you've all said.

How is the house registered with Land Registry - Tenants in Common, or Joint Tenants? What percentage of the deposit did you put in? How much of the mortgage and on-going costs did you pay towards? Can you prove any of this?

Edited by metroturbo on 13th Apr, 2016.

Just another thing to bear in mind - it might be treated as being liable to stamp duty when the owner is changed with the Land Registry, which would land it with the new 3% stamp duty for 2nd homes/buy to let properties.

Understand your crap dude. Same here. Just getting her name scrapped from the deed wil ost me 3000euro. And then in have to pay her another 11000.... ( if she plays nice... ) if she doesn't play nice I need to pay her half the value of the house while only 22 k ( hense the 11000) is payed from it.

you can do anything if you set your mind to it...
i rather blow it up winning than keep it together losing.

finish date set for project 1... march 2018

Adrian
Another point here, and think carefully. Is this house the house you REALLY want? Is it the house you would choose now? Also think in terms of a future Mrs, how happy will she be living in a house you bought with your ex? Asking because I have been there done it. I kept my house and bought the ex out. But it has caused friction sometimes in the past with my now wife.
So are you better just to sell the place
In its entirety and move on?
Allied the fact, if your ex knows you want to hold onto the house, she may try and use that to bargain or blackmail you when it comes to a settlement. If you sell it outright then maybe you are in a better position to hold your ground.
Good luck whatever you decide.

Thanks,
Sorry if I've confused anyone but I don't want the house, my best option is to get bought out.
Hopefully getting a job up in Harrogate so wanting to move.

Yeah sorry i may have confused tom there with my post.. (p.s tom i feel your pain i dont even live in the house i brought with my ex and i still get it thrown in my face every now n again from the now mrs)

On another note and im sorry to branch out but are some of you guys saying that in the case of a split now days the court actually dont just 50/50 etc, they actually do it fairly by how much each person put in etc? I did not know this?!...

A large part will depend upon how the house is registered (assuming there was never a marriage), and whether it was set up as an uneven split in the first place or not. Was it Joint tenants or tenants in common? With such relatively small sums of money at play, it would all disappear pretty fast on solicitors fees to thrash it out and prove to the last pound what you are owed. Keep smiling (even if you want to scream in her face), sort it out amicably, and walk away to get on with your new life.

Get out fast and easy....then if the renting isnt above board, all taxes paid etc....tout on her lol.

Or just move on with your life hassle free.

How much money are you really talking about with fighting through expensive solicitors etc ?

9.85 @ 145mph
202mph standing mile
speed didn't kill me, but taxation probably will

It's going to mediation, she won't move and I have nothing to loose.