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Marital home

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24 Mar 18 #500407 by skinny lizzy
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Hi, I'm well on the road to divorce now. The application has been made. My question is:- I have a flat, a house and the marital home. The flat is enough for say a couple, the house is 3 bedrooms but in a rough area and a mortgage that I couldn't afford - the marital home is 10 minutes from my daughters school (she starts secondary school this year). The marital home has an 80k mortgage on it which is manageable as interest only. Would a judge say I would have to sell the marital home where my daughter is settled and can get a bus to school every day and make me live in one of the other houses that's worth less just so my stbx can get his money out of the MH? Or is it possible that a Judge could say, my stbx Could have the flat with no mortgage, sell the other house to pay the flat mortgage off then pay any remIning off the MH and I live in the MH until my daughter finishes school at which time if he's owed any money he could have it when our daughter is 18!

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25 Mar 18 #500409 by WYSPECIAL
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You need to post more details about incomes, ages of yourselves and children and all assets.

Remember it doesn't matter whose name an asset is in it is all in the pot. How you split the pot is down to negotiation but if it ends up being decided by a Court the priority will be housing children.

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26 Mar 18 #500451 by skinny lizzy
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Hi, I'm 55 and spouse is 62. My daughter is 11. Spouse self employed so only declares minimum wages and I work part time earning appro 15.5k per year! Is this enough info? Current house value approx £320 but 80k interest only mortgage on this. Other property value £220k with a 120k mortgage on it and 3rd property worth only 120k with a 65k mortgage - all of these are interest only. I really want to stay in my current property (it's a small 3 bed detached property close to my daughters school.

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27 Mar 18 #500464 by WYSPECIAL
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So there is approximately £395k of property equity.

Any other assets such as pensions or savings?

How big is FMH your strict needs are two bedrooms?

How much would a two bed hpuse cost in the area?

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27 Mar 18 #500483 by skinny lizzy
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Hi, it's a small 3 bed house and to buy a 2 bed would be around £240k

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