Dan FRST

I have just split up from my girlfriend after 9 years. We have had a house 2 years (joint mortgage) and obviously will be getting rid. There is no way on earth i can afford to buy her out, however her old man is desperate to buy me out. I don't want to walk away with peanuts, am i able to turn down his offer and demand say £20k cash?

The house has had a brand new everything - kitchen, bathroom, just spent thousands on the garden etc.

I would like to rent the house out, so i still have a mortgage and an investment for the future. So if my girlfriend wants to sell (to her dad) and i want to rent - what happens?

I really don't want to sell it to my ex's dad (who has money and thinks money can buy him everything) unless i get a decent wad to walk away with.

Am i right in thinking my ex can't do anything without my consent?

Muska

you exactly right. best thing i did when i was in this situation was seek legal advice, its worth the money honestly because they will tell you exactly how it is and where you stand.

Redkop

Go and get a solicitor's advice on this, there's lots of things to be taken into consideration and only a solicitor will be able to advise you properly.

Niall.b

agree with Muska. what you could do is come up with a figure that covers all your costs etc, add on a bit for inconvenience & put it to her dad & see what he says. good luck anyhow as i know its a very unpleasant time for all

Iain Mac

I agree that you need a solicitor, but also think you will need the house valued. Then deduct the value of the loan and fees and I'm sure you are both entitled to half the remaining amount.

If one of you want to keep it and the other wants to sell I think the first party will have to buy the second party's share - I don't think anyone can be forced to stay in debt as that could affect their ability to get another loan on another house.

Dan FRST

Cheers for the advice.

Just really want to know what i can and can't do, before making myself look a twat.

Dan FRST

E.G. Trouble is the house is worth say £130k, mortgage is say £120k fee's = £3k.

£130K - £123K = £7k / 2 =£3500 each.

There is now way thats enough for a deposit for me to put on a new place. I'm going to need at least £10k. Can i refuse to sell it for 130K even if its valued at that? I want to rent it out so it continue's making me money.

Redkop

If neither of you can reach an amicable agreement, I imagine a solicitor will advise you to sell the property/furniture, pay off the o/s mortgage and split the money.