Unfortunately, my wife does not agree to the sale of the house, as she maintains she needs the five bedrooms (one on the ground floor) for when her boys come home. They do not, and never have, contributed financially to the property.
My view is that we have been separated three years and at the moment I am paying the whole of the mortgage together with the rent of a house which is near enough to the family home so that my children have access to me at any time. I feel it is now time I should be able to move on and buy somewhere for myself and in order to do that we now sell the larger house and downsize in order that everyone can move forward.
May I also explain that my mother set this up for me, but it operates under her e-mail address. She tells me it includes a 7-day free trial period and that within that period I may ask 5 more questions. Is it possible to change the e-mail address to my own which is [email protected]
Mortgage outstanding £180,000
3 bedroomed property in this area approx £200,000
I apologise - it is worth £370,000
My initial question was perhaps too simple. What I would like to do is find out what I can expect to receive financially should the house be sold.
Our position as as follows:
I am self employed. Currently earning £41,000 per annum
Lynne (my wife)is employed as a special needs teacher in the early stages of her career. She currently earns £23,000 p.a. plus child benefit £1776 plus child tax credits £3000. I also pay £330 per month child maintenance and £250 towards the mortgage of £600. (Sorry I was netting the figure off when I said earlier I pay the whole of the mortgage, as it is me who actually pays it)
I currently rent a house at a cost of £685 per month.
Lynne has offered the following: If and when the house is sold she wants to take £9000 to cover her cost of retraining as a teacher. She argues that, when we were family I was supported to retrain as a bookkeeper. In order to enable her to buy a suitable house she needs £120,000 as a deposit and therefore suggests splitting the proceeds 2/3 in her favour (after deducting the £9000).If I agree to this she will agree to sell within 2 years.
Lynne feels she is entitled to buy a house whereas she doesn't consider that I should also have that right.
I feel the split should be 50:50 but could be persuaded to accept 50:45 if this could be resolved sooner rather than later.
Do you think a court would rule that she be allowed to stay in the present house until Raf is 18. (he is 10 at present)
Is a court likely to agree Lynne should have a greater split than me?
If so what is your opinion as to what that ratio should be?
Am I liable for Lynne's retraining costs?
I trust this has clarified the situation a little. I hope I may look forward to your reply.
Lynne put down a deposit from the sale of her previous home and, we obtained a mortgage which I paid. This was 15 yeas ago. We have moved three times since then. For the majority of that time I have funded the mortgage.
I am sorry, I really can't remember, and I don't know how I can find out. Is it possible you could base your reply on say £10,000 and £30,000
I am absolutely certain that over the period of time I have contributed far more than Lynne to the cost of the house. Even she has not suggested her having paid the deposit would affect the outcome. I thought it was common law that our joint assets should be split 50/50. I imagine you are going to tell me I am wrong.
Thank you for your advice so far, but I think the questions I need answered are:
a. Will Lynne be ordered to sell the house?
b. Should she do that, why would she be required to buy her own house if that means I would be unable to?
c. If the reason for this is that she is the prime carer is there any reason why I shouldn't go for 50% custody.
I did not leave Lynne for 'another woman', I just could not cope with living with her any more. She was the one who introduced her new 'partner' to my children within two weeks! However I imagine that is all irrelevant.