Welcome to Wikivorce but sorry you find yourself here.
If you have been separated for more than two years you can divorce on the grounds of two years [url=Resources/Library/Cohabitation-and-Separation_s33_m1852.html ]separation[/url] withholding. No need to use unreasonable behaviour which can inflame things.
The priority for both of you is to provide a secure and stable home for the children. The most cost effective way to do this may well be retaining the former matrimonial home. If she has issues with credit, getting another mortgage might not be possible for her. Financial division on divorce is about needs first and the means you have between you to meet them.
How big is the former matrimonial home? The strict need for each of you is a 3 bed property.
What is the market value and the outstanding mortgage?
Has she detailed the debt she says is matrimonial and explained why she thinks it is a joint liability?
It is possible for a court to order that she stays in the matrimonial home until your youngest is 18 or even 21. She would have to pay the mortgage but as it is in your name, you would have problems getting another mortgage. In order to avoid this, you would need to make a case that shows how her housing needs are to be met (as well as yours). If she can show the debts are matrimonial and there are no other assets,she could end up with a greater share of the equity to cover your share of the debt.
As I am self employed, and my contract ends in December I’m not able to provide a permanent or stable home paying £750 rent per month.
I believe I need a mortgage (our old mortgage only £350) which would be more than suitable to pay as my wage is not fixed.
I therefore need to get off her mortgage, and get my own to provide a stable home for kids.
Former home 3 bed. 95ish left to pay on the property - was bought for 160,000 but it’s now worth 200,000.
If I was to stay on the mortgage for 6 years as she has asked, she wouldn’t be able to get a mortgage on it afterwards anyway.
She cannot prove joint liability of debt - while claiming she had this debt and putting herself into a debt management plan, she had inheritance of £9,000 of which she spent on a holiday instead of paying her debts. My solicitor has asked for proof of where this has gone as she is pleading poverty.
It’s all so tricky!!
Worst of it all, she left me. And now is playing the woman scorned.
We only have 70% shared ownership, so as the house was valued at £200,00... we are only entitled to £140,000. Gives around £44/45,000 equity.
She will not rent, she said she ‘needs’ the home, and ‘won’t be able to rent due to credit rating’. I’ve explained she can rent with a guarantor but she’s having none of it.
I’m hoping court will see it’s unreasonable for her to keep the house when she cannot afford it. I’m willing to sell and give her more than 50% equity to pay off her debts (of which have nothing to do with me!). I can extend the mortgage, but don’t actually want the home. I either want my name off it, and she can keep all equity OR sell and she can have enough equity to pay off her debts.
Thanks for all your help and advice, really appreciate it!