Well thats true of any number of situations, but in the meantime folks can offer their own opinions and experiences.You need legal advice on this and all related issues.
The OP's question can't be answered without the above information.Do you have children? Investments? Savings? Pension?
If the house is worth €300k and there's €100k in equity then how is mortgage approval of €280K not enough?Hi all, thanks for the replies.
We've 3 children, both civil servants so similar pensions and about 10k savings. Similar incomes too about 60k each. About 200k left on the mortgage with 100k equity, just the one property.
Bank have said they'll lend me 280k but don't think that's enough. Tried mediation but wasn't clear on mortgages etc. Thanks again.
If the house is worth €300k and there's €100k in equity then how is mortgage approval of €280K not enough?
If you buy him out for €50k you'll need a total mortgage of €25
If the house is worth €300k and there's €100k in equity then how is mortgage approval of €280K not enough?
If you buy him out for €50k you'll need a total mortgage of €250k.
My mistake...we've about 100k each in equity so 200k in total. He hasn't said how much he would take and I think that's because he's not sure.If the house is worth €300k and there's €100k in equity then how is mortgage approval of €280K not enough?
If you buy him out for €50k you'll need a total mortgage of €250k.
Bought it in 2014. lm trying to figure out how much I put in, I would say I put 60k towards it and he got a gift of 20k to put towards it.When did you both buy this house? What % of equity/amount did you put in v your husband?
Is there any way to extend or covert attic or add a shomera etc to make things more manageable in the medium term?
Has your husband said what he’d like or expect from a settlement?
Mediation most definitely can address the family home and maintenance issues etc if both parties are amenable
My mistake...we've about 100k each in equity so 200k in total. He hasn't said how much he would take and I think that's because he's not sure.
I suppose a solicitor might advise?
I'd be at my limit on 280k so couldn't afford much else. Feel stuck
Bought it in 2014. lm trying to figure out how much I put in, I would say I put 60k towards it and he got a gift of 20k to put towards it.
No room to extend unfortunately/no room for a seomra, we are stuck.
I'll revisit mediation when I figure out what I put into the house I suppose.
So house worth €300k, mortgage balance €100k, equity €200k
You’re repaid €60k, he’s repaid €20k. Balance €120k. So €60k each.
You’d need a mortgage of €180k to cover outstanding mortgage and amount to buy him out
Bought it in 2014. lm trying to figure out how much I put in, I would say I put 60k towards it and he got a gift of 20k to put towards it.
No room to extend unfortunately/no room for a seomra, we are stuck.
I'll revisit mediation when I figure out what I put into the house I suppose.
Yes, would be worth having those figures and maybe coming to an agreement that each party is ‘repaid’ then the balance of equity is shared
So house worth €300k, mortgage balance €100k, equity €200k
You’re repaid €60k, he’s repaid €20k. Balance €120k. So €60k each.
You’d need a mortgage of €180k to cover outstanding mortgage and amount to buy him o
Apologies...I wasn't clear.Yes, would be worth having those figures and maybe coming to an agreement that each party is ‘repaid’ then the balance of equity is shared
So house worth €300k, mortgage balance €100k, equity €200k
You’re repaid €60k, he’s repaid €20k. Balance €120k. So €60k each.
You’d need a mortgage of €180k to cover outstanding mortgage and amount to buy him out
Just to check....is this the right forum for this kind of advice...wasn't sure.
The Bank is giving legal advice? That's strange.House is worth 450k....mortgage left of 200k. I put in approx 60k and 20k from him. Bank reckons because of this I the equity would not be split.
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