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Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34589
Experience:  I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
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what share of equity will I be entitled to. House value

Resolved Question:

what share of equity will I be entitled to.
House value £210,000, outstanding mortgage £80,000, leaves £130,000 equity.
Phil’s lived there 14 years. We’ve been together for 10 years and I’ve lived there for 8 years and contributed prior to going on the title deeds. The house is in both our names.
We married 3 years ago.
His wages are £80,000 per year and mine are £15,000.
Submitted: 3 years ago.
Category: Family Law
Expert:  Clare replied 3 years ago.
Hi
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first. Are there any children involved.?
What other assets are there?
What financial contribution have you made to the property?
Clare
Customer: replied 3 years ago.

There are two children, Max four and Charlie two. There are no other assets involved. I put 10 thousand into the property about 3 years ago, I use my wages to pay household bills etc and child care.

Expert:  Clare replied 3 years ago.
Hi
Who will the children live with and how much will a three bedroom property in the same general area cost to buy.?
Clare
Customer: replied 3 years ago.

for him about 130,000, for me about 160,000, need area need current school. the boys will live with me and see him around once a week

Customer: replied 3 years ago.

actually woudl want to remain in current house

Customer: replied 3 years ago.

the children will live with mum, if my husband bought his own house it woudl be around 130,000. I prefer to stay put for now.

Can you please respond with some urgency.

Customer: replied 3 years ago.
Relist: Answer came too late.
need an answser to my initial question???? still not come back to me
Expert:  Clare replied 3 years ago.
Hi
My apologies for the delay - I have been unexpectedly without an internet connection
Given that if the house was sold you would need all the equity to rehouse yourself and the children you have an excellent chance of remaining in your current home until your youngest child is 18 or you cohabit
When the house is sold you are likely to get a 60/40 split of the property - more if you give up your claim to spouse maintenance.
If you could get him released from the mortgage now and pay him something you could get away with an even larger share of the equity!
You should offer to discuss the options with him using Family mediation (www.familymediationhelpline.co.uk)
Please ask if you need further details - and again my apologies for the delay
Clare
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