Your Home

This is generally the biggest asset to be resolved.  Rather than spend a lot of money on surveyors you should take the following steps to initially value your house:

1. Check what other similar properties in the area are on the market for by going to websites such as http://www.rightmove.co.uk/ and also looking in your local paper.

2. Check the prices that local properties have actually sold for recently on sites such as http://www.nethouseprices.com/ or http://www.mouseprice.com/

If you are or have been cohabiting or living in a house that one or both of you own the usual rule is to pay off the mortgage and divide the proceeds or for one of you to buy out the other's share/interest.  There are huge variations on how the proceeds are divided, especially where one or other side provided the deposit.  Buying out the other person's share has potential legal pitfalls. Where you are married a more delicate balancing exercise has to take place and needs are a much greater consideration.

We never advise a client to hand the keys back to the mortgage company without taking proper legal advice first.  The mortgage company's main concern will be to sell the property as quickly as possible to get some money back.  They will then be entitled to pursue either or both of you for any shortfall.  They do not have to do it immediately and can wait until you are in a better financial position.

If you need advice on your property and issues you face then ring (01525) 373322 to talk to an expert for free.