Equity Transfer

[sbrewis]

My partner and his x-girlfriend took out a mortgage together with a loan on top. The mortgage was for �57,000 and the Loan for �18,000. The split up and she wanted the house, he has been contributing to half of their monthly loan payment but not to the mortage as she did not want this and he had to pay money to live with his parents. After 10 months of messing about she has finally put in for the transfer of equity. The house is now valued at �68,000. Will he loose his right to some if not all of the equity as he has not been paying the mortgage?

[scorpio61]

to the best of my knowledge and through a similar incident involving a family member, I believe he does not lose any rights even if he has not contributed to the mortgage payments. He can use the fact that the money taken on top went to making the house the home it is today and that he has had to maintain that. If in doubt, consult a solicitor but try and get it sorted amicably or they will end up in debt fighting over it!!

Peter Whyte

MD Chambers Moore Ltd