Seeking Advice on Financial Settlement Offer

[Atlantic53]

I received a counteroffer regarding the financial settlement. The offer is for 55% of the equity in the family home in her favor. Leaving pension if we settle it out of court. The house valuation is two years old, and I would like to accept the offer by paying a cash lump sum without selling the house. I was the sole earner in the household. The house is in my name and was purchased just before the marriage. Our marriage lasted 10 years, and I am still paying the mortgage.

My question is: how do I settle this and convince her that I want to pay the 55% of the equity in cash, which we agreed upon at the start of negotiations?

 

[Jumper85]

Hi @Atlantic53 - do you still need help with this?

 

[Jumper85]

Assuming you have the cash equivalent of 55% of the equity or would you need to remortgage? Has you ex suggested what that equity split is based upon in terms of property value?

 

[Atlantic53]

Thanks. Ex started financial settlement two years ago. The family home is on my name and I was the sole earner. We estimated the cost at that time and started negotiating. Still not in court yet. Now she is asking sell the property and share the profit. I would like to remortgage and pay her in cash for full and final settlement. The cost of the property estimated two years ago, since I was paying mortgage. I don't have solicitor so I want to make sure I am going in right direction.

 

[Jumper85]

Ok, have you spoken to the lender to see if you can borrow enough to buy her out?

 

[Atlantic53]

@Jumper85 Thanks for pointing it out. I will discuss with my bank.