Hi, this is Jim, one of the experts on Just Answer. I’m sorry to hear of the problem and will do my best to resolve your issue today. Please feel free to ask me anything to clarify the answer.
They are married, so the property is the matrimonial home. The court's starting point is actually 50/50 of the property, though contributions to the purchase price are also taken in to account, as is the length of marriage and a few other factors such as their ages and earning potential for example. They need to get 3 valuations for the property and work out the equity - 50% should be the starting point.....
The court will consider the factors contained within Section 25 of the Matrimonial Causes Act 1973 when it assesses a financial settlement. Therefore your ages, length of marriage, any children under 18, your earnings and earning potential (same for your husband), the assets including the former matrimonial home and pensions if applicable, any debts, financial and non-financial contributions to the marriage, your standard of living enjoyed before the marriage breakdown, your financial needs in future and your housing needs, any medical needs and so on.
The starting point is 50% but if there is a disparity in earnings or you have paid more in the way of mortgage/rent, etc, you can ask for more than 50% of the former matrimonial home. It would be worth speaking with her to see if she would agree to any split without having to involve the court. The more that can be agreed without the court's involvement, the better.
If nothing can be agreed then you would need to issue financial remedy proceedings once decree nisi comes through (if you start divorce proceedings), or obtain a decree of judicial separation, so you ask the court to become involved in a financial settlement as well as the divorce.
Before you involve the court with the finances you need to contact a local mediator which is compulsory before you ask the court to intervene in the financial aspect. You can find a local mediator here : https://www.familymediationcouncil.org.uk/find-local-mediator
Assuming mediation fails or your Wife doesn't agree to mediation then you will need to issue financial remedy proceedings and you would need to complete and send two completed copies of Form A (one copy is attached) to your local family court and pay a fee of £255 payable to HMCTS. If you are on a low income or have low savings you can ask the court for help with the fee here https://www.gov.uk/get-help-with-court-fees
The court will then list a first appointment and give directions for a financial dispute resolution hearing (FDR) where the judge will give their opinion on a likely settlement - which usually prompts a settlement at this stage. The court will ensure the parties make full and frank disclosure of their assets and liabilities to ensure the financial positions of you both are known and to allow the court to make a settlement decision. If the case does not settle, further directions will be given and a final hearing may take place if neither of you can agree to settlement terms.
To apply for a judicial separation, the site is here: https://www.gov.uk/legal-separation
To apply for a divorce, the site is here: https://www.gov.uk/divorce
And for information on a financial order: https://www.gov.uk/money-property-when-relationship-ends/apply-for-a-financial-order
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