Between 180/190k for reasonable3 bed.
If shared equally they would both have 125k equity left after sale of their house and repayment of my loan.
I would then make a new loan of 62.5k to each of them to give them £187.5 to buy their houses.
i would want to secure the loan money so that it is only used for house purchase(s) in the future and can be passed to the two children when the reach 25.The loans to reflect the percentage growth in house value over the period.
The wife already has a 12k car
my son will have to pay spousal allowance separate to the loan agreement.He has them 2 days week.She wants this to continue until they are18 -but although he would like children in school asap -he is willing to pay spousal money for 2 years.They both have 40k in savings -she has 8k car
only my son earns £50k -she earns nothing, now she gets some benefits(approx £400m)
my son earns £50K YEAR,- she earns nothing, but now gets benefits.
she has £40k savings
She now says court will favour children over loans -not sure about that?
She says she does not acknowledge loans and needs £250k to buy house.
Thank you for your reply . Would the court order the loans to be repaid prior to any settlement?
Then would she get 80% of equity to buy a house in full and final settlement and does this include spousal maintenance? If this is the case what income would she live off - if she is allowed to home educate the children? My son would prefer them to go to school. Would the court order them to go to school and her to work?
This would leave my son with only approx £60k to put a deposit on a new house and he would have to take out a new mortgage - how could he afford to pay maintenance as well?
We do not understand the alternative you mentioned - how would the charge on the new property work and how could it be repaid if she is still living in the house?
What spousal maintenance would he be paying and for how long?
She is currently refusing to recognise the loans at the mediation meetings, although we have concrete proof from our accountant. Do you think we should go to court for a ruling or should we offer her half of the equity of the house for a final settlement? We are trying to balance our best approach (i.e. to go to court or to make an offer) as he has other assets such as
half share in a field worth £20k
Discretionary trust share worth £40k
Would our best approach be to make an offer to waive the loans (i.e. 280k - 140 k each) and if so how could I ensure that the money would eventually go to my grandchildren?
My son is now thinking he maybe should have applied for custody of his children.
We have an example of her not coming home, staying out overnight- she was meant to collect children - andhe had to call police in the morning -and he was unable to go to work -until she was finally traced late in afternoon.
He has evidence that she has used drugs -with photo of her under influence. He has seen her hit children (but would be unable to prove easily). There is evidence of instability, mental problems in her family.
Is there any chance? I could help ensure they were well brought -up
The main carer has been his ex-wife. He didnt actually see her hit the children but she told him that she had hit the eldest one as he was annoying his brother sometime back in Dec/Jan and there was a bruise round his eye.
To clarify the drug issue he has a picture of a text msg from her boyfriend stating that he has found some potential suppliers for mdma and coke for them.
She also reguarly drank a bottle of wine per night during the marriage and has attempted suicide in her youth by paracetamol and her father has bi-polar disease of which he suffers depression and needs regular medication.
My son does not like the home educating of his sons and feels they are missing out on a full education and the chance to mix with other children their own age.How would the court rule if it were proposed that the eldest goes to the local school and the youngest to nursery? It would also give his wife the opportunity to work , part-time at least.(This is presuming he does not have custody)
If you feel there is a good chance of his getting custody, -how would he be expected to support her and the children?