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Yes, the question was more about the numbers. We will amend the terms with a deed of variation and use a solicitor or whatever we need to make it all kosher.
ElGonzo-
It's not simple, as you have lots of elements and variables. That's why I suggested the exact numbers as a starting point.
Another option is to split the periods. E.g.
- Date of purchase to today @ 55/45
- Today to sale date @ 60/40.
If you work out a couple of scenarios it'll tell you if you end up with someone wildly unfair to one party to lock in the value to date in this way. That would be the easiest way Imo.
- Date of purchase to today @ 55/45
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Definitely not that simple. If you're retrospectively changing the split you can calculate 5% of the deposit and payments made so far then pay that to the person giving up 5% plus 5% of any increase in property value.
If you chose to use that to reduce the mortgage then you will need to add the equivalent from the larger shareholder to re-balance the reduction. I.e. £40k + £60k = £100k to be payed by the larger shareholder to rebalance the mortgage.
hugo7
Airhead
What's the actual question, how to work out the numbers? Personally I'd make a spreadsheet with real numbers first. Although I'm sure someone here will be able to give you a proper formula.
... or how to amend the deed? If so you could make a new one or amend the existing one. You'd need to check the terms of the deed first to see if there are provisions to amend. If you're fortunate enough to have the split just in the recitals/intro and one clause then you can diy imo. You just need to read up on how to execute it correctly - for a deed it'll need to be witnessed.
If it's more complicated then you'll need a solicitor to make sure you don't fuck up wider changes.