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Hi after 5 years of living together my partner and I are separating my question is how to divide the house fairly
we are not married and no kids
we purchased the house for £144,500 now valued at £185000
out standing mortgage of £113,000
my original deposit was £17,000 followed by another 6,000 on home improvements
my partners deposit was £7,000 followed by £500 on home improvements
I would like to buy my partner out
my question is my partner is asking for 50% of the equity at current market value which I think is unfair as I put the bulk of the money in so should be entitled to a larger share.
what is the general rule of thumb in the eyes of the law in this situation ?
i would be very grateful for any advice. Thanks in advance Tim
we are not married and no kids
we purchased the house for £144,500 now valued at £185000
out standing mortgage of £113,000
my original deposit was £17,000 followed by another 6,000 on home improvements
my partners deposit was £7,000 followed by £500 on home improvements
I would like to buy my partner out
my question is my partner is asking for 50% of the equity at current market value which I think is unfair as I put the bulk of the money in so should be entitled to a larger share.
what is the general rule of thumb in the eyes of the law in this situation ?
i would be very grateful for any advice. Thanks in advance Tim
