It's been going on for two years and I have an FDR on thursday.There is around 20k of equity in the house as it is mortgaged, which is in my sole name and she lives in it with the kids and we both have small pensions and cars of not much value. I live at my parents.
Offers of settlement have included the discretionary trust which I mentioned before offering to purchase the property from me and allowing her and the kids to live there and that's about it.
I don't know what her legal aid bill is so far but I would guess it's in the ten's of thousands so really my question is at what point if at all does the legal aid organisation turn around and say there's not enough money available to pay back this bill. I have borrowed money from relatives to pay for legal services.
To live in with the kids, so the trust would purchase the house from me as in I currently own the house and have a mortgage on that at the moment. She would not own the house but have what I think is called a licence to live there until she wanted to remarry or cohabit.
Because of the mortgage. I think I have use the wrong terminology here. The house is worth say £100,000 and the amount owed on the mortgage is say £80,000 so I own the house in name but the bank has a first legal charge on the property.
These are not the actual values and I cannot afford to service this mortgage and provide housing for myself so it's not possible to keep the house without the trust buying it from me.