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Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34282
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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I'm separating my husband. I have a three year old who will

Resolved Question:

I'm separating my husband. I have a three year old who will be in my care 5 days a week. I work 24 hours a week and want to get my own place.
I have a mortgage with my husband, and have heard if I move out, it could work out badly for me. My husband has agreed to buy me out but do I need to do anything so I don't lose out in the long run?
Submitted: 2 years ago.
Category: Family Law
Expert:  Clare replied 2 years ago.
HiThank you for your questionMy name is ***** ***** do my best to help you but I need some further information firstHow much is the house worth and how much is outstanding on the mortgage?Why are you the one moving out?
Customer: replied 2 years ago.
Hi
The house is worth approximately £230,000 with about £130,000 remaining to pay.
The reason I want to move out is because my husband has an office in the house as he is self employed, meaning he has to come back here to work. We are also half way through building an extension so this is another reason he will be back regularly. I want a fresh start somewhere where I do not have to see my husband more than I need to.
I have worked out that I should be able to live comfortably alone with the help of some tax credits, but a few people have said that if I am the one who moves out, it could fall negatively on me when it comes to my husband buying me out or selling the house. Is this the case? I really don't want to stay in the house with all the memories and for the above reasons, but I don't want it to mean I lose out on money later on. Thanks
Expert:  Clare replied 2 years ago.
How much has he offered you - and what income do you each have?
Customer: replied 2 years ago.
We haven't spoken about how much he will offer me as yet. I earn around £9000 a year. He is self employed but it is around £60,000 a year.
Expert:  Clare replied 2 years ago.
How will you afford the rent on a property?
Expert:  Clare replied 2 years ago.
.
Customer: replied 2 years ago.
Is this meant for me? She is three. I don't understand the rest of the question?
Expert:  Clare replied 2 years ago.
My apologies - the site is have a glitch.The question for you was - how will you afford to pay the rent on a new property
Customer: replied 2 years ago.
With my wages and help from tax credits. I have done the online calculator and it should be enough as well as help with child maintenance from my husband.
Expert:  Clare replied 2 years ago.
So you will not need Housing Benefit?
Customer: replied 2 years ago.
I'm not sure? I thought tax credits would be the only thing I could get?
Expert:  Clare replied 2 years ago.
The starting point for division of all the capital assets is 50/50 - but the family court has wide powers to redistribute the assets in any way that theyconsider fitThe priority is the housing needs of the child - so if you remain in the matrimonial home it is likely that the court would allow you to live there - or give you a larger share of the proceeds of sale to purchase another property.If you establish an alternative home in a rental property then it is unlikely that you will get more than 50% of the equity when the house is sold Financially you would probably be eligible for Housing benefit but the fact that you have neither remained in the Matrimonial Home nor forced a sale will make it unlikely that you would receive itHowever provided you are aware of these issues then there is no reason not to continue with your plans BUT do try and discuss matters with your ex using Family mediationwww.familymediationhelpline.co.ukso that a clear agreement can be reached and recordedI hope that this is of assistance - please ask if you need further details
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