How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Clare Your Own Question
Clare, Solicitor
Category: Law
Satisfied Customers: 34900
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
Type Your Law Question Here...
Clare is online now

hi. I am about to start legal proceedings for a divorce (husband

This answer was rated:

I am about to start legal proceedings for a divorce (husband had an affair with nanny).
We need to keep costs to a minimum so in the next few weeks we will start with mediation.
Before we go into this, it's obviously critical that i have all my options open to me.
So. It's critical that i end up with the best scenario for me adn the kids in relation to finances.
My current situation is the following:
he is only willing to pay me the legal minimum (20% of net earnings - we have 2 daughters one 8 and one 5) (currently he's out of work but he shoudl have something by December/January.His earning capacity is around £55k per year. So i'm expecting around £700 a month. It's not really enough.
Our 4 bedroom house is currently valued at approx £800k-£850k in finchley North west london (in joint names)
We have a mortgage of £365k
My earnings are £42k a year for 4 days a week
I am able to get hold of an extra £100k for when we move (he doesn't need to know this)
We have joint savings of around £40k
i am hoping i can get hold of around £160k for a mortgage (around 4 times my salary)
We can't afford to get him off the mortgage and pay him off. i don't want to leave him with nothing but i also need a house with 3 rooms which will house me and an au pair.
I will have to move out of the Finchley area in to a cheaper area further north of Finchley which is not ideal for schools as the kids MAy have to move schools.
i would like to know what my options are in terms of how much equity i am entitled to from the sale of the house and to see if he can pay more than the legal minimum as this will just about cover childcare and some food costs. All has been good with the kids and i am happy for him to see the kids when he likes. currently he puts them to bed at the weekends and on Wednesdays. Till now they have not stayed at his flat as it's one bedroom and not that nice. My lawyer is saying they should start staying over once a week, but not sure i understand that logic....
My ideal situation is i get as much equity now without having to pay him off when my youngest turns 18 years old. I would love to have it all done now without the headache o of owing him monies in years to come. Could i get 60% of the equity in the house now and not have to give him the remaining 10% at the end or does he HAVE to end up in all cases with 50%/50 at the end of it all.
What would be great to hear from you are what are all my options. Worst, mid and best case scenarios. Is it better for him to wait for the cash? or give him as much as possible now as the thought of having to pay him more money in 15 years time is not attractive either!
some friends are telling me to get it all done now. And just give it all to him now and then it's clear and cut. some are saying i should give him the rest later as then at least i can live in better living accommodation. Living in London is expensive and i am not happy about the prospect of moving from a 4 bed house in Finchley to a small 3 bed flat in a not so nice area.
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 will you actually need to rehouse yourself and the children?
What Pension provision do you each have?
Customer: replied 3 years ago.

Hi Clare

I have about £50k in my pension. Steven probably a bit less. Maybe between 40-50k.

As i mentioned a 3 bedroom semi is around £520-540k so i need around that to rehouse myself.


Are there any school fees to pay?
Customer: replied 3 years ago.

No school fees. Just after school activities which his 20 pc will not cover.

I also just met with my IFA who is convinced I should be able to stay put in the house. Hoeever my lawyer said unlikely as we would have to get him off the mortgage which would be around 120K pounds. How likely is it that I could stay put in the house?

Customer: replied 3 years ago.

no. no school fees except for lunches and after school activities

My apologies for the delay
Your solicitor is correct - if you wish to remain in the property you will need to obtain his release from the mortgage.
This is because if the house is sold whilst you might need all the equity to purchase another property he would at least be free to get another mortgage
A 60/40 split of the assets is in fact very achievable since you will have the care of the children If you were able to offer him cash now - rather than waiting until the children are 18 or you cohabit - then 70/30 should be achievable
I am afraid however that unless his next job os very high earning there is no question of his paying more than 17^% of his GROSS income by way of child maintenance
With regard to the overnight contact I suspect your solicitor simply means that for the children it is better that is starts sooner rather than later
I hope that this is of assistance - please ask if you need further details
Clare and 3 other Law Specialists are ready to help you
Customer: replied 3 years ago.

Thanks for this. Do you think it is achievable to get more than 60% of the equity now? ie closer to 65%?




If you can raise the funds to buy him off immediately i would push for 70/30