Selling A House In Littleborough After Splitting Up

1st July 2023
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Experiencing a breakup can be an emotionally challenging time, especially when you also have to deal with the stress of selling your house due to the relationship ending. This upcoming period may prove to be quite demanding.

Reaching an agreement with your former partner regarding the sale of the house and living arrangements can be difficult. Protracted decision-making processes may strain your short-term finances, and making poor decisions could have long-term financial implications.

According to a recent survey, Manchester has one of the highest divorce rates in the UK. If you find yourself in the process of splitting up and selling a house in littleborough, rest assured that many homeowners in littleborough, are going through the same experience. Depending on your situation, it may be advisable to seek guidance from a family law attorney to receive legal advice regarding your rights.

In addition to navigating the legal aspects of selling your home after a breakup, familiarising yourself with the process will help you expedite the resolution so that you can begin the next chapter of your life.

To assist you in selling a house in littleborough after a breakup, we have compiled this guide, which covers various scenarios and options.

What Happens to the House in a Divorce? The fate of the house will depend on your specific circumstances. Below, we explain the outcomes for the most common scenarios:

Married or in a Civil Partnership If you are married or in a civil partnership, there are typically three options:

  1. Sell the house and divide the proceeds. If both parties desire a clean break, the best option is to sell the house and split the proceeds, assuming there is equity in the property. This approach will help sever your financial ties as soon as the sale is completed. If you have negative equity or are still within a period where an early repayment charge applies to your mortgage, you should carefully consider whether to sell immediately or wait.
  2. One person buys out the other. Another common scenario after a breakup is when one person decides to keep the house by buying out their former partner. This involves obtaining a new mortgage in the name of one individual to enable them to pay their ex-partner their share of the property equity.
  3. Retain the home, and one party continues to live in it. In cases where children reside in the home but one partner cannot afford the mortgage on their own, the courts may issue a Mesher Order. Typically, this means that the primary carer of the children remains in the home until the children come of age. Once the children turn 18 or start full-time education, the house can be sold, and the other party will receive their share of the sale at that point.

What If You're Not Married? If the property's title deeds are in one person's name and you are not married and have no children, the other partner may not have any rights to the house. If you moved into a partner's home where the mortgage was already in their name, it is unlikely that you have any rights to remain in the property or claim any of the capital.

If you are unsure whether you are named on the title deeds, you can check the Land Registry for England and Wales.

Not Married but Have Children For non-married couples with children, the legal rights differ slightly. If custody arrangements are determined through court, the primary carer for the children may be able to obtain an occupation order allowing them to remain in the family home for a certain period of time. In this situation, seeking legal advice is highly recommended.

What If the Home Is Jointly owned but You're Not Married? If you jointly own the home but are not married, there are typically two options:

  1. Sell the house and divide the sale proceeds.
  2. One person buys out the other.

Both parties will be responsible for paying the mortgage until it is fully paid off, which can cause complications if one person wants to continue living in the property until it is sold or until they buy out the other person. Seeking legal advice to ensure the best outcome is always advisable.

How to Sell a House When Going Through a Breakup

  1. Talk to Your Mortgage lender. Contact your mortgage lender and explain the situation. This will help you understand whether the mortgage can be transferred to one person. Your lender can also provide information on the remaining mortgage balance if you decide to sell the property.

Additionally, you can find out if financial factors, such as early repayment charges or negative equity, could make it unfavourable to sell at the present time. You may choose to rent the property until the early repayment charge period ends or until enough of the mortgage is repaid to eliminate negative equity.

  1. Obtain a Market Valuation from a Local Estate agent. Getting a valuation from an estate agent will provide insight into the financial aspects, including how much each party would receive from the sale. You should also consider other costs, such as a solicitor's fee, an estate agent's fee, and mortgage exit fees.
  2. Prepare Your Property for sale. While you may be tempted to pack up and empty the house, an empty property can be less appealing to potential buyers. Keeping the house furnished, clean, and tidy creates a more welcoming atmosphere, allowing potential buyers to envision themselves living there.
  3. Avoid Revealing the Reason for Selling to buyers. Sometimes, it's best not to disclose the details of your breakup when selling a house. Building a positive perception of the property is crucial. If a potential buyer inquires about why you are selling, stating that you are moving out of the area is often a more suitable response.

Face to Face has been assisting residents in the Littleborough region to sell their properties for over 20 years. We can help you achieve the best price for your house and offer experienced advice at every stage of the way. Contact us immediately to begin the process of selling or renting out your home in Littleborough.

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