I am new here and I need some advice. I'm currently going thru a separation.
Married 8 years matrimonial home purchased after marriage, in husband's name only.
House bought for 75000, balance remaining 47000. House now valued at 90000.
I want to buy my husband out and transfer house to my name.
Have a mortgage in principle of 60000.
My question is, is this enough to buy him out if we split equity 60/40 or 70/30? We also have 1000 debt together in his name only. I also have a pension.
Thank you for your advice.
Many thanks for your reply. Just to add that I am just hoping he will accept 70/30 as I'm staying with the kids in the matrimonial home. If it goes 50/50 i probably won't be able to afford the mortgage. However my other option would be to get first time buyer grant. The debt thag we have is actually £10000.
I have not looked into pension yet, but I have a bigger pension which I've been paying into for 17 years. Will this have to be split too?