Trying to get a fair deal...?

Question

Not married,
No kids,
Together for nine years,
I bought eight grand into relationship and put twenty grand down on deposit for house.
Bought house a year and a half ago for £117,000 (including the deposit)
Mortgage currently £93,000.
House valued at £135,000.

What does he get from equity, what do I get?
How do I work out what equity is fair for him to have...ignore debt, 'who does what, who earns what, who paid what and assets at the moment as this was extremely equal.

Answer 1

Been here, got the t-shirt. In my case everything was split 50/50 whilst living in the property, mortgage payments and utility payments and on this basis I would advise the following.

You have two options;

Option 1 - sell the house, take the down payment that each of you made (i.e. your £8,000) and split everything else down the middle.

Option 2 - Get 3 estate agents out to give market appraisals, take the average of the three and buy him out at the average price.

Whatever you do try to do it amicably and use a reputable solicitor to sort out the finer details.

Answer 2

If you had 8 grand before the relationship, then you get that back first and foremost. The remainder gets split in half. Doesn't matter who makes more money, it's a joint asset and is equal.

Answer 3

is the basement activity nicely worth $6000? If no longer do unusual jobs till ultimately you have sufficient funds. does not merely might desire to be to your parents. you ought to mow lawns. in case you think of you are able to cope with the basement activity, you probable ought to do unusual fix jobs than do no longer require an electrician. Or get a nicely-known activity - section time or complete time.

Answer 4

Sorry, but if you're going to ignore all of the important factors, just split it down the middle. Job done.

Answer 5

just suggestion but if you wanted to stay in the house maybe you could buy him out. if thats an option.