Hi there, I earn approximately £2400 after tax and expenses, he earns around £2300. Neither of us have any savings nor do we have much debt (minimal - around £2000 in total all in joint names)
Not sure how much his pension is worth but we have been married ten years and we both have a similar pension scheme which we contribute to. Mine is slightly less as I was part time for 7 years. The mortgage payments at the moment are £1200 on a repayment plan. I am looking to remortgage at the end of our deal in a few months so should be able to bring it down to around £900 per month or less if go for an interest only. His pension is a police pension and he has 16 years 11% annual contribution. I am not sure what that equates to exactly. Mine is around 8/9 years pro rata.
Hi Mac, thank you for this, really useful. Can he force me to sell the house? At the moment I am staying at my mums house with the children and he is in the house but I just needed space and he said he had no were to go. I fear he will try force me to sell it, stating he needs his equity now, however the costs of moving, penalties on a mortgage etc would make that a near impossibility at the moment. Affording a three bedroomed property with the equity reduction would make it difficult for me to buy in the same area we now live. I want to get the children back into their home but i dont think he will leave...Thanks
hi yes I could but it would be difficult. provided the atmosphere didn't get too difficult and that we could be adult about it. Just not ideal as I find it hard to think clearly when he is around.
Thanks again for all your help. Just trying to make sense of things.