I'm rubbish at maths so no idea on the split but wondering where in the U.K. property has gone down in value over 10 years?!
Glasgow. Still lower than it was at the peak of the 2007 madness. My place is still worth about 15% less than i paid in 2007. And we both stay in very popular locations
Your girlfriend has enjoyed the benefit for 10 years of having her sisters £20k lowering her mortgage payments and has had a nice place to live for this time.
It's not her sister's £20k, it's her dad's.
There’s another property out there in the sister and partner’s name, that the father gave them money towards.
I'm starting to think he has more money than sense. And that the sister is exploiting that.
Well I reckon £10,800 will be the offer. I expect she’ll accept it as my girlfriend already told her half was unreasonable, and now I have some figures to explain it all.
I'd be very careful in offering to show your working. "How does a free ten grand sound?" might be a better gambit than giving her something she can pick holes in. Pitch it as though you're doing a favour and being generous, "yeah, you're right, you should probably get something."
Something else has just struck me.
She's 50:50 on the deeds for this place despite moving out 9 years ago and not contributing a dime since.
She's now living with a partner who bought a house with an inheritance, still isn't paying a dime towards it, and is on the deeds 50:50.
There's a theme here. She effectively owns an entire property after paying a mortgage for six months. At this point I'm very much leaning towards offering the 10k as a fair offer and then countering with "sue us then, bitch" if she rejects it.
"Tell her she can have half of the equity on receipt of payment of the nine years’ worth of mortgage repayments she’s failed to make on the flat she part-owns."
Kinda with him on this....
Sister jobbed of after a year leaving GF with 100% rather than 50% of mortgage repayments. Surely the idea that some have mooted that GF has had a "subsided" rent is not right. If anything she has had to fork out twice as much to cover the mortgage.
Dad's 40k has now essentially diminished in value. Sister could have said when moving out that she wants her share of the money and the GF would have had to pay her out her ~20k. The fact she hadn't done that and that "her investment" (thanks dad) is now worth less but something the GF should cover. The GF has suffered the same loss.
The GF has had to cover mortgage repayments and presumably ongoing costs of the property.
Sister hasn't really got a moral leg to stand on. However, the courts may see it differently....
Just to throw a couple of curve-balls into the equation:
Did your girlfriend kick her sister out or did she leave voluntarily?
Was there anything preventing sister from moving back in whenever she pleased?
Was your girlfriend prevented from taking a lodger/roomie to pay rent and subsidize mortgage/running costs?
I'm guessing none of these factors have any legal bearing but could be used as a moral justification should it suit her.
Assuming sister left voluntarily, your gf could have rented out a room to subsidize the mortgage the sister should have been paying but, of course, your gf didn't incase sister wanted to move back in.. 😉
Legally, I'd doubt who paid what and who has been living rent free or whatever actually matters. Both names are on the mortgage. I'd bet a court would split 50:50.
I struggle with long sentences but what property bought in 2007 for £145k is now worth £125K? Can we get some here in Cheltenham please?
<quote> Legally, I’d doubt who paid what and who has been living rent free or whatever actually matters. Both names are on the mortgage. I’d bet a court would split 50:50.</quote>
So gf should sue sister for 9 years worth of unpaid mortgage! 😉