Hi,The house is worth 320k the o/s mortgage is 220k.The only significant asset is her car: £8,000. We are both directors and shareholders of my company (75% me, 25% her). The company owns my car, worth approx. 18k and the company has a car loan with 18k outstanding. We both have a computer. The company has no other assets.My total income (all through my company) is approx. 55k gross. Hers (from the NHS) approx. 30k gross. I pay £200 per month to my daughter who is 19, until she leaves uni next June. My wife's ex currently voluntarily gives £100 and £200 in respect of his son (15). In the past there have been times when he has given nothing. She has 20years worth of NHS pension. I have small private pension pot worth about £40k.I have £14,000 credit card debt accumulated while I have had no projects in the last 3 months. This will start to reduce once I find my next project.Regards,Mark
There are plenty of 2 bedroom houses around £150,000. 2 Bedroom apartments from £100,000.
The company is roughly 98% me, my wife does private work amounting to no more than 2% of the turnover.
She earns about 30k gross, and has the option to work an extra half day taking her to approx £34k. I did a calculation on a Bank website that concluded that she could borrow £140,000. With half of the equity that would enable her to purchase a property valued up to £240,000.
No, money comes in and goes out.
One final question, assuming something an 80 20 split on the equity, am I likely to be required to make any ongoing payments?Thanks