View Single Post
Old 6th Nov 2018, 17:26
  #9 (permalink)  
KelvinD
 
Join Date: May 2011
Location: Hampshire
Age: 72
Posts: 679
CG: Speaking from experience, she will probably end up with a 50/50 deal. I had to pay her 50% of the purchase price of the house (her lawyer wasn't too sharp, the house is now worth three times that).
The mortgage had not yet been paid off (interest only) so I was faced with a choice of selling up and finding somewhere else to live or allowing myself to be suckered into a life time mortgage (equity release). Given that I had our son living with me, I had to think about his continuing education, his circle of friends etc so I bit the bullet and went for the equity release option. The company pension plan had gone down the Suwanee. We had previously agreed that I would opt out of that and put the money into building a house in the Philippines. Needless to say, she now has that.
Not a happy situation and I wish your daughter well.
KelvinD is offline