Joint mortgage separation rights

If you agree that you will continue living in the home, you could buy your partner out of their share.

This is common if you plan to stay in the family home with children. 

You can then remove your partner’s name from the mortgage and put the mortgage in your name.

How much you’d buy your partner out for

The amount you pay depends on what you agree with your partner or through a solicitor. 

If you decide to split the value in half then you would work out how much you’ve paid off and divide this in two. You’d give your partner that amount plus what they put down as a deposit.

So if you’ve paid off £50,000 together and your partner put down a £10,000 deposit, you would give your partner £35,000.

You could remortgage to get the money to buy out your partner.

Selling the home is one of the easiest ways of coming to a fair agreement. 

When you sell you’ll either pay off the rest of the mortgage or sell and split the rest of the money.

If the amount you owe is more than the value of your home, you may have to split the debt between you.

You could keep your home and transfer part of its value to your partner. 

This means you’d own the home but your partner would get a percentage of the property’s value if you later sell it.

If you’ve almost paid off your mortgage you and your partner may decide to keep paying until it’s paid off. 

You could then split the money when you sell the home.