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Clare, Solicitor
Category: Law
Satisfied Customers: 35063
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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I have just told my husband I want to separate, we have 3 little

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I have just told my husband I want to separate, we have 3 little girls, and he wants t put our house on the market ASAP and split the funds etc. He makes around 4 x my salary so will not have an issue getting a new mortgage etc, I may. I just wanted to know what my next should be as I would like to keep my daughters in the family home for at least a year so we can get through this huge change
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 old are the children and how long have you and your husband lived together?
How much is the house worth and how much is outstanding on the mortgage?
What income do you each have?
Customer: replied 3 years ago.

Hi Clare, Girls are 11, 8 and 6. We have lived together for the last 15 years, house valued at 775k, outstanding mortgage is 370k. I earn 29k and he earns 106 k

How much does a cheaper three/four bedroom property in the same school area cost to buy?
Customer: replied 3 years ago.

I would say honestly 400- 450 k

I assume that the children will remain with you?
How much can you afford to borrow on mortgage?
Customer: replied 3 years ago.

Yes, the girls with stay with me. Looking at mortgage calculators, with my wage 135k

But can you afford those repayments?
Customer: replied 3 years ago.

I could afford the repayment of a 135k mortgage yes

What offer has your husband made about how the equity should be divided?
Customer: replied 3 years ago.

He thought 50 50 but I didnt think that left us in a very equal position

The priority for the family court is the safe and secure housing of the children until they are 18 - and as little disruption as is achievable.
Since there is considerable equity in the property there is no reason why the house should not be sold,
however you will need to receive more than half of the equity in order to adequately rehouse the children in the same school area.
The only issue will be how much of the "extra" capital you will have to repay when the youngest child is 18 or you cohabit.
As a starting point you are likely to get 60% of the equity anyway to reflect the fact that it is you who will have to compromise your career to care for the children.
On top of that you have a reasonable substantial claim for Spouse maintenance and if you forgo that then receiving a 70/30 split of the equity in the matrimonial home would be a reasonable settlement.
Clearly this is only a very rough guide
You and your ex will need to negotiate these matter suing Family mediation
to ensure that you have support in the process.
I hope that this is of assistance - please ask if you need further details
Clare and other Law Specialists are ready to help you