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Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34908
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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My wife and I married in 2005. She had a son born in 1999 (not

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My wife and I married in 2005. She had a son born in 1999 (not mine). His father voluntarily contributes £100 or £200 each month. My 2 kids from previous marriage are now grown up, I am paying maintenance to my daughter while at uni for 18months more.

We have a house with approx. £100,000 equity. My wife brought the equity into the marriage. She works part time, brings home approx. £2000 per month and pays enhanced pension contributions. I contribute £2000 per month to the family finances plus I pay for my car, maintenance and personal expenses myself, but have paid nothing into a pension for some years.

For various reasons I am getting to the point where I want us to split. I need advice regarding how to go about this, what the financial split is likely to be, I am assuming I will not be liable to make any ongoing payments to Emma and her son? Would I be entitled to any of the equity, she brought £100,000 into the marriage, but I have been paying towards the mortgage, and she now has a much better pension than I. Her car is paid outright and is currently worth: £8,000. My car has a loan outstanding equivalent to the current value of the car, so as an asset is worth nothing.

For various reasons
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 much is the house worth and how much is outstanding on the mortgage?
What other assets and debts are there and what income do you each have?
Customer: replied 4 years ago.

The house is worth 320k the o/s mortgage is 220k.
The only significant asset is her car: £8,000.
We are both directors and shareholders of my company (75% me, 25% her). The company owns my car, worth approx. 18k and the company has a car loan with 18k outstanding. We both have a computer. The company has no other assets.
My total income (all through my company) is approx. 55k gross. Hers (from the NHS) approx. 30k gross. I pay £200 per month to my daughter who is 19, until she leaves uni next June. My wife's ex currently voluntarily gives £100 and £200 in respect of his son (15). In the past there have been times when he has given nothing.
She has 20years worth of NHS pension. I have small private pension pot worth about £40k.
I have £14,000 credit card debt accumulated while I have had no projects in the last 3 months. This will start to reduce once I find my next project.

How much does a two bedroom property in the same general area cost to buy?
Customer: replied 4 years ago.

There are plenty of 2 bedroom houses around £150,000. 2 Bedroom apartments from £100,000.

Just to confirm - the company is essentially just you?
What mortgage capacity does your wife have?
Customer: replied 4 years ago.

The company is roughly 98% me, my wife does private work amounting to no more than 2% of the turnover.


She earns about 30k gross, and has the option to work an extra half day taking her to approx £34k. I did a calculation on a Bank website that concluded that she could borrow £140,000. With half of the equity that would enable her to purchase a property valued up to £240,000.

Do you hold any funds in the company/
Customer: replied 4 years ago.

No, money comes in and goes out.

I think that you are over optimistic on her mortgage capacity and suspect that the court will think so as well.
However since there are ample funds for rehousing this need not be a major issue
Since she brought the capital to the marriage and still has a child under 18 your wife will still get the majority of the equity - with an 80/20 split being likely
You have a claim on half of eight years worth of her pension and she on half of eight years of yours 0- but that is factored into the 80/20 suggestion.
This if course is only a rough guide.
Please ask if you need further details
Customer: replied 4 years ago.

One final question, assuming something an 80 20 split on the equity, am I likely to be required to make any ongoing payments?Thanks




Unlikely given your respective incomes and the fact that the child's biological father does pay maintenance
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