Looking for help in your family court proceedings?Bridge The Gap is a free, community-built guide to UK family court, written by litigants and McKenzie Friends, for litigants. Real observations, plain English, and people who can help.
Assumption: "A £400,000 mortgage is a £400,000 debt."
1 min readThis content reflects observational insights and lived community experiences. It does not constitute legal advice — always consult a qualified professional for your specific circumstances.
What People Expect
Litigants often treat the outstanding mortgage balance as a straight debt that reduces their share dollar for dollar.
Court Reality
The mortgage is only a debt if the house is worth less than what is owed on it. The figure that matters is the equity, which is the value of the house minus the mortgage and the costs of sale. If the house is worth £600,000, there is £200,000 of equity. If it is worth £350,000, there is none.
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The Gap?
"A £400,000 mortgage is a £400,000 debt."
Court Reality
The mortgage is only a debt if the house is worth less than what is owed on it. The figure that matters is the equity, which is the value of the house minus the mortgage and the costs of sale.
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