Thank you. We have been married for about 10 years.
Our house is worth about £250,000 . There no outstanging mortgage.
I am on a pension. Teachers...about£1300 per year and my wife is earning about £12,000 a year. A two bed property in this area would cost about £150,000. We have no oustanding debts. My daughter would I'm sure prefer to stay in this house. I would guess with her mother.
Thank you. I hope this provides the information you require to progess this request for assistance.
From my own personal account after selling a previous house.
My wife did not contribute to the actual purchase of this house but as I said it is now in joint names....
Most of the capital came from the sale of a previous property owned by me plus my own money in bank . No compensation claim or anything of that nature.
We have actually lived together for about 15 years.
Hope this is the information you require.
Hi The length of the relationship and the fact that you have a child together makes a 50/50 division of the capital almost inevitable. Your ex could in fact argue for a larger share - maybe 60% of the equity but the fact that the capital in the marriage came from you and that 50% coupled with a small mortgage would allow her to rehouse herself and your daughter should be sufficient to protect you from the larger claim If you and your ex cannot reach agreement on how the financial issues are dealt with - using Family mediation if need be (www.familymediationhelpline.co.uk)- then it is for the court to decide and a sale in these circumstances is likely. I hope that this is of assistance - please let me know if you need further clarification Claire
Thanks for your reply and helpful advice. You indicate that probably there would be a 50% split in the sale of the house. However I did ask one very important question and that is ....could either party INSIST on the sale of the houase and division of funds. Basically I would need some of this to be able to buy another house ...as I am a pensioner I would hardly get a mortgage.
Thanks...am clearer now.