separating. do we need 2 sell?

[mammamia31]

hi, in desperate need of advice.
im separating from my partner. we have a house together for two years. bought it for 355,000 wit a 40 year mortgage. house now worth about 320,000. what do we do about house? we have a daughter. i want to stay in house., ex partner is unemployed. i earn apx 650 a week. do i need to 'buy him out'?? i dont understand all this.if we sell are going to get into debt?? please help!!

 

[Mommah]

Sorry you are dealing with this.
I'm no expert on separation issues...but if the house is in negative equity...then I can't see how you would have to buy him out.

If he is unemployed I don't know how much maintenance you can expect.

So how much is your mortgage per week?

Could you rent a room (was €6000 tax free)
Take in a foreign student in the summers?
Could you move out and rent the house out while things stabilise?

If you do the sums, you might be better off leaving him with the house...maybe.