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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 30929
Experience:  Over 5 years in practice
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seperation advice legal rights

Customer Question

I have been happily married 12 years, I have three children ranging from 5 to 10 years old. A few weeks ago my wife told me that she didn't love me anymore and wanted me to give her space. I stayed with a friend week and tried to get back with my wife. She promises there in no one else but is determined to separate. we previously jointly owned a house and sold to look after her late farther and lived with him while. We sold when prices were low so lost some equity. What equity we did have went on paying debts off. Her farther then passed away and she was left some Inheritance, we used this as a large deposit and then got a joint mortgage. She now wants to sell the house and take back what was left to her, she has said that I can have the equity that is left. I would like some advice as to what I am entitled to as want to make sure I can provide children in the future. She has said if I agree she will agree to wiver any rights to my pension and any future inheritance that I may get. Just wanting some advice so I can decide what's fair and what's best to do. Thanks. I currently stay back home on wed nights to look after children and the wife stays round her sisters, I also do the same one night of the weekend and have girls after school every Friday until my wife finishes work.
Submitted: 1 year ago.
Category: Law
Expert:  Clare replied 1 year ago.

Thank you question.

I will do my best to help you but I need some further information first.
How much is the house worth and how much is outstanding on the mortgage?
What other assets are there and how much did she inherit?
How much does a cheaper three bedroom property in the same school area cost to buy?
Clare
Customer: replied 1 year ago.
Clare, the house is now worth £326k. The outstanding mortgage is £130k, she inherited £144k, other assets include a hot tub probably worth about £2k and a car that is in my name but we both use at about £5k. A cheaper 3 bed that she has been looking at is £230. We have debts of about £15k that leaves about £35k after all is settled she has said I can have that as a deposit. I'm currently also paying 1/2 the after school club fees that is about £50 a week and £150 a month into a salary sacrifice which I will use to help pay term and other school holidays where child care is needed.
Expert:  Clare replied 1 year ago.

What mortgage capacity do you each have?
Clare
Customer: replied 1 year ago.
Clare, my wife can get about £80k if she keeps her inheritance I can get a mortgage for £215k if I get the 35k. I think this would make my wife's mortgage £350 a month and mine about £1000 a month. my wife earns £18k per annum and I earn £45k per annum.
Thanks,
Richard.
Expert:  Clare replied 1 year ago.

How much can she borrow if her deposit is smaller?
Clare

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