The loan was done 2 fold. £7'500 of it was for me getting started in my own business & the rest (£4k) was for getting off road parking (which has increased the value of the property) She has never paid anything towards this loan & it's in my sole name & always come out of my bank account.
I'm waiting for a call back from a friendly solicitor a mate has just used in his divorce so will see what they say.
I asked a family lawyer. Because your are not married it's property law not family law but she thought the probability is that a Judge would order a 50/50 split as it's a long time since you bought. She said most likely her deposit would be ignored in view of amount of time passed and that you paid extra repayments. HTH.
I'll kill her for £4k
Well you should offset the 4k and 33% interest as well then.
I'd say she gets the 15k and no interest. If you have done all the maintenance on the house present her with a bill for that then tell her not to be so silly or you'll both loose all your money to a robbing solicitor.
Me and the other half both own our houses but will soon be buying a joint one. We will definately be having a contract drawn up as to who gets what if we break up though that event is unlikely. It would just help to avoid any future problems.
Hope it all works out. Failing that though shag her sister to get you're own back.....
IHN on the bottom of the 1st page is probably closer than anyone else on here that I can see. Hard to work out without knowing all the payments involved but using NPV as a guide to how to approach this her £15k was a big contribution. It would be possible to work this out properly knowing all the payments with dates but a bit of a PITA I suppose.
Just torch the gaff and claim the insurance 😈
Prepare an invoice to her and you for all the painting and decorating and other improvements you've probably done to the property over the years to help increase the property value, eg flooring, landscaping, bathroom upgrades etc.
Make it total £10k and offer to split it with her as, if you didn't do all the DIY you'd have both had to pay for. Handyman to do it for you
Failing that, Boarding Bob's offer must be tempting?
Split it all 50:50. WTF mess about with 'interest' as well? That says there is animosity or a hint of why the relationship broke up anyway if one is micromanaging detail...
How can you claim loss interest on £15K when it has been invested in the property that has given a mega % return?
The trouble is the minute you get lawyers involved the amount that is disputed will pale into insignificance.
You are stuck between the devil and the deep blue sea. How would sir wish to be damned?
Should have added a patio years ago....
Over the early years i was paying much more in to the joint account than her but we both still managed to build up lump sums of £10'000 each. Over recent 2-3 years self employed work has been tough for me & I've been able to put in less per month than she has as she has a stable job. I have used all of my £10'000 to try & keep to my end of the bargain on what goes in to the joint account.
Bit of a contradiction there. She saved £10k but couldn't have afforded the bills? Remember, you paid much less in mortgage because of her sizeable depositas i have pointed out, if it hadn't been for my income we would never have been able to afford to keep the house for the first 9-10 years as her income wasn't sufficient to cover all bills
I'm still paying a loan back for some work we had done to the house a few yrs ago which i won't see a penny in help from her on!
The £4k comes off her deposit amount, so effectively she will have paid net £11k. Point this out that it if you give her £15k it effectively gives her the 'interest' she thinks she is due.£7'500 of it was for me getting started in my own business, & the rest (£4k) was for getting off road parking......., She has never paid anything towards this loan
Seems reasonable to do this and both parties should be happy. Remember, [b]you[/b] could not have bouht the house without her deposit and have benefited massively from its increased value, so take whats left and be bloody grateful that you have come out with that and she's not after a share of your business.
^This
But if you are not married its just the house in joint names that needs to be shared everything else is private and separate?
I'd vote that you are being very reasonable. I'd say don't budge unless it's to a default 50/50 position.
BUT........... you really need to know how the divorce game you are engaged in normally works out given your individual circumstances. Normally that would compare your total assets and future needs against hers and would include things like pensions as well as personal ready worth, and possibly your individual prospects for future earnings.
Get a "Decent" lawyer.............that's another huge problem, but be assured, although thin on the ground, they are out there. The second one I hired for my divorce was bloody brilliant. I can't praise her enough. The first one I hired came recommended and I took his rudeness to be a sign of ruthless efficiency, but he turned out to be a clueless buffoon. I am at a loss to tell you quite how you tell if a lawyer is any good at your first meeting or not. The majority of the lawyers I've dealt with have been less than good.
What you really need to know is what settlement you are likely to get in a court, given your circumstances. You can only get that from a competent lawyer who spends lots of time actually in the divorce courts. Once you get that advice, and you are satisfied it is sound, try for a settlement around that without going to court.
In all honesty, how much of the 'money=power' pig-headedness is coming from your end?
Nothing about post-split financial breakdowns is going to feel entirely fair, as you can pretty much guarantee that both parties will be worse off. If you mix one person's money with another, separating them years later is like trying to get the milk back out of a rice pudding.
If I were in your shoes, I'd like to think I'd manage to force my mind way back to the time when she meant the world to me, hold that thought and make her an offer as near as dammit to £5K. Then go for a ride.
Whether or not I could outsprint the fast-growing personal bitterness is another matter. Good luck.
