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History: Home UK Divorce Forum
Topic:
Financial settlement questions (2 Posts)
Started By:
Date:
29 January, 2018 06:00PM
Financial settlement questions
Plantdiet - 29 January, 2018 06:00PM
My husband and I are going to get divorced, and I wanted to get an idea of how this might leave me financially.

We have been married 10 years, have three kids (4, 9 and 10). We don't have a lot of savings. Our house is worth about 900k with a mortgage of 140k. He works full time and earns about 100k. I work part time and earn about 10k. We have another property as a holiday let we own outright, worth about 250k.

The kids would live with me and he agrees to that, with every other weekend with their dad as well as one or two week nights with him the weeks he doesn't have them at the weekend.

Would I be able to stay in the marital home? I wouldn't be able to afford the mortgage and household bills though unless he paid me spousal maintenance in addition to the child maintenance.

Also what would be likely to happen with the rental property?
Re: Financial settlement questions
davidterry - 30 January, 2018 03:24PM
Bearing in mind that there are two properties with a combined equity of about £1 million I would be surprised if it was fair for you to simply remain in the former matrimonial home. If both properties were sold it is very likely that there is enough equity to provide fairly for both of you. Because you will no doubt have the children and you have a lower income than your husband it is very likely that you will need more of the equity than your husband but all the same it should be possible to sell both properties to provide fairly for both of you.
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