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Clare, Solicitor
Category: Law
Satisfied Customers: 34885
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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My wife and I are separating, divorce no doubt to follow.

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My wife and I are separating, divorce no doubt to follow. The house is in both our names however she paid (cash) for it 5 years ago. Do I have any entitlement to the house - or the amount it has risen in value over that time?

Thank you for your question

How long have you lived together and are there any children involved?

Where did the funds come from?

Customer: replied 1 year ago.
We were married in 2005, although living together from August 2004. We have two (adopted in 2012) children ages 7 & 8.
She has a lot of money (mainly it was given to her by her father) and the house was paid for with a combination of money from the sale of her old house (in which we were living) plus she made up the difference for the more expensive new house - i think from her Trust Fund but I cannot say precisely, it could have been from money accumulated from her dividend income.

How much is the house worth and what other assets are there

What income do you each have?

Customer: replied 1 year ago.
the house is worth, i think about £2.4m. We do not have any other major assets other than our own respective savings etc.
She lives mostly off her Trust and has investments which pay dividends. I do not know what the annual amounts are. She is always signing documents for her (v rich) Dad and so i think there is other income too.
I make £80k p.a. - at the moment. I want a career burnt out!! :)

How much would a two bedroom property in the same school area cost to buy?

Customer: replied 1 year ago.
Hi. Depending on the actual locale I would say £500k up to £750k (there are various types, converts or new build and some nice blocks, some not as good.) Sorry id that is a bit vague. i am now renting a 2 bed and I know it cost the landlord £749k

What mortgage capacity do you have?

Customer: replied 1 year ago.
If that means how much can i get then I do not know a specific amount. I am nearly 57 and so , and this is one of the reasons i asked the question, I am not keen to take on a large and "long" mortgage. I paid off my mortgage before i met my wife and after we were married, as we had a house, i invested the money from mine in a business (2006/2007 ish). And lost it :( . I do have enough savings for a decent deposit (£100k) so I imagine could get a 600/700k mortgage (but do not want too!! )
Customer: replied 1 year ago.
I am paying £2k per month rent - and happy to continue renting as I would not want to force a house sale as it might disrupt the girls (children).

Since the house was purchased in joint name you have a claim on it - but it will not be 50% nor anything close.

Even 20% could be optimistic - although not impossible, but there would be no need for a delay in payment - the court would see a mortgage as a reasonable option for her.

I hope that this is of assistance - please ask if you need further details

Clare and other Law Specialists are ready to help you
Customer: replied 1 year ago.
Thank you.