I separated from my partner in May 2017 and stayed in the family home with my 3 boys...my ex- agreed to pay half the mortgage until my youngest son reaches 19 (11 yrs time)....my employment circumstances also changed and im now on a very low income £7500 pa. I have found myself getting into more and more debt and decided to sell my home and hopefully buy a 2 bed with the equity. This will mean i have no mortgage and will not have to rely on him continuing to pay his half. He has told me he has gone to a solicitor as if im going to sell it, he wants his share of the equity out of the house. His wants 50% to which i dont agree as the 65k deposit came from MY previous home, which i sold and some from my redundancy payment. I have bank statements and conveyancing paperwork to prove this. I am now worried he can stop me from using the equity to buy another place...is he able to do this??
If your income has changed so much and you have children have you applied for tax credits? You will get a single parent payment plus monies for each child under 18 and in full time education.
It's worth seeing what you can claim. At the end of the day you have paid tax and now you need help.
Yes i have applied for tax credit which have been a massive help....but i still cant cover my outgoings...although im in a financial mess...its also my emotional wellbeing that i need to address...even if i wasnt in financial difficulty i would still want to sell the house, as it holds too many upsetting memories and i dont want to have to reply on my ex for the next 11 years...he can be very intimidating and i just want a fresh start, without having to rely on him....but im worried he can stop me from using the equity to buy another place for me and the boys
Thank you x