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Ask Clare Your Own Question
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34900
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 have seperated from my wife and moved out of the family home

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I have seperated from my wife and moved out of the family home and am renting a room at the moment. I have 2 children who live with my wife both under 12. I have no funds to buy a home unless our house is sold. My wife refuses to do this. She can afford the mortgauge on her own but cannot afford to buy me out. Where do I stand as regards ***** ***** being sold.

Many thanks
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 3 years ago.

Thank you. The house is worth approx 320,000 the outstanding mortgage is approx 210,000 (estimated amounts). My earnings are approximatley 14000 my wife is an accountant with a practice of her own earning from this vary between 20,000 and 30,000. I have bad debts of around 20,000 that I pay weekly, my wife has none. There are no other assets we each have our own cars, mine is worth approx 2,000 my wifes approx 7,000.

How much would cheaper three bedroom property in the same general area cost to buy?
Customer: replied 3 years ago.

At a guess approx £190,000


Can your wife obtain your release from the existing mortgage?
Customer: replied 3 years ago.

No, she has asked but they say she dosen't have enough income on her own to have the whole amount in her name

I am afraid that the priority for the family court is the safe and secure housing of the children until they are 18 and from the court's point of view that means that the Court will not Order a sale until the youngest child is 18 (or your ex cohabits) unless doing so will release sufficient funds for your ex to purchase another property.
In your case there is a possibility that if the house was sold and she received all the equity then she could rehouse herself - and you would be released from the mortgage but you will still have to wait for your share of the equity - likely to be 40% rather than 50% to reflect the fact that she will have had to work around the children.
You can try and negotiate with your ex using Family Mediation - but if this fails your only option is a Financial Application within Divorce proceedings
I hope that this is of assistance - please ask if you need further details
Clare and other Family Law Specialists are ready to help you