• Transfer Of Equity

    By Guest on 12th Oct 2016

    I am looking at a 50/50 split of assets between myself and my ex wife - separated 8 years ago and wishing to divorce amicably. The houses we both own are now worth in very broad figures taken from Zoopla.

    House 1 worth £310,000 Interest only Mortgage £240,000 Equity £ 70,000


    House 2 worth £500,000 Interest only Mortgage £125,000 Equity £375,000

    Total Equity of both properties £445,000

    Divided equally = £222,500 each

    Equity transfer to myself (as I already have £70,000 equity in House 1) would be £152,000
    Which would still leave my ex wife with £223,000 equity as of present day values.

    Do you know of any way of transferring the equity in such a way that does not cause her extra financial cost now? Each house was put into our own names when we split 8 years ago and I transferred £70,000 equity from the house I live in to her house so that she would be secure whilst the children were younger. We then both took out new mortgages on that basis. Going to solicitors has been unpleasant as they do not respect our wish for an amicable agreement.

    Thanks for your attention to this query.





    Best Wishes



    Roger Barton

  • 1 Answers

    By Guest on 12/10/2016

    Hi,

    Can you clarify please whose name(s) each house is in at the moment?

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