Hello everyone, long time lurker here so would appreciate some advice. Unfortunately my partner and I are breaking up only a year after buying house with a 35 year mortgage.
I put in the majority of the 15% deposit down. My partner is asking for 37k which consists of her deposit, all mortgage payments (including interest) and investment into house construction.
I feel that figure is high based purely on the fact we haven't really built any equity in the house and house prices have declined (we haven't done a valuation yet).
House Purchase Price: £515,000
Mortgage Balance: £429,445
Tenants in Common: 50/50 equity split
Deposit: 15% - £67,250 (me), £10,000 (her)
Interest rate: 4.64%
Is the 37k a fair price? I'm not sure I want to keep the house as there needs to be an extension rebuilt as the previous owners had a Lean to extension which isn't up to building standards (we knew this when we bought, terrible decision I know). I feel I've already committed enough to the house but will face hefty penalties if we sell (solicitor fees, ERC etc).