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Ask Clare Your Own Question
Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 34108
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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Hello, I am wanting to get divorced. The only thing stopping

Resolved Question:

Hello, I am wanting to get divorced. The only thing stopping me is finances. I have spent the last 14 years bring up children and haven't worked in that time, I would like to find a job but I am finding it hard to get one with the limited hours I could work (school times/term only) and I now have a medical condition, just to make things harder. I need some advice on how I and my children can survive, we are going to need to either keep the house or try and get my husband to buy us somewhere else. How am I going to pay the bills? I don't know where to start, feeling lost.
Submitted: 3 years ago.
Category: 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.
How long have you lived together and how old are the children?
How much is the property worth and how much is outstanding on the mortgage?
What other assets and debts are there and what income do you each have?
Clare
Customer: replied 3 years ago.

Hi Clare


We have been together 14 years, married for nearly 9. The youngest child is 10 the oldest is 19. Property is about £320,000 there is about £65,000 left on the mortgage. No other debts, no assets that I know of.


im not 100% sure how much he earns, im guessing around 30-35k, he gives me £700 a month to buy food and other things

Expert:  Clare replied 3 years ago.
Hi
How much does a two bedroom property in the same general area cost to buy?
Clare
Customer: replied 3 years ago.

Hi Clare


the only 2 bed properties are priced the same as 3 bed semis around 250k. all surrounding areas are priced the same. I couldn't move to far as im not prepared to move my son from a very good school, I don't want his education to suffer.

Expert:  Clare replied 3 years ago.
Hi
So a three bedroom place locally would cost about £250,000 is that right?
Clare
Customer: replied 3 years ago.

That's right they do. The house I am in now is 3 bed detached.

Expert:  Clare replied 3 years ago.
Hi
In the event of a divorce the starting point for division of all the assets (including pensions is 50/50 - but the priority for the court is the safe and secure housing of the children until they are 18
On that basis your worst case scenario is that you would have to sell your current house and use ALL the proceeds to purchase an alternative property.
This would release your ex from the mortgage and allow him to buy elsewhere
He will be entitled to receive his share of the capital when the youngest child is 18
HOWEVER at that point it is likely that you will receive the larger share of the equity to reflect the fact that you have had the care of the child and to allow you to rehouse yourself
In the mean time he will have to pay child maintenance for the younger child at 12% of his gross income
he may also have to pay spouse maintenance although that is harder to assess
You should offer to discuss these matters using Family mediation (www.familymediationehlpline.co.uk)
I hope that this is of assistance - please ask if you need further details
Clare
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