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Read our latest Financial Settlements guide (2021)

What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

What steps can we take to reach a fair agreement?

The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

What is a Consent Order and why do we need one?

A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.

what equity in the house should i expect

bikemad650
Posted by
Premium Member

10 May 12 #329628 by bikemad650

Topic started by bikemad650

hi, im getting divorced and am wondering what equity to expect to get from the house etc,theres probably around 145k in the house after mortgage is paid off, she s playing hardball so fully expect it to go to court for them to settle. we have no real savings as such, also my name is on a joint loan for her car, am i entitled to half of this .

maisymoos
Platinum Member

10 May 12 #329631 by maisymoos

Reply from maisymoos

You would need to provide more information for anyone to help.

Respective ages
Length of marriage including cohabitation
Are there children, ages, where and whom they live with.
Other assets
Debts
Respective Incomes including benefits
Pensions

bikemad650
Posted by
Premium Member

10 May 12 #329636 by bikemad650

Reply from bikemad650

ok sorry, we are both 41, married 16 yrs, together 1 yr before, 2 kids 10 and 15 both living with her, no real assets other thn house n cars, no real debts, she earns 39k me 41 k ish, pensions will be similar i think, hope this helps and thanks:)

maisymoos
Platinum Member

10 May 12 #329640 by maisymoos

Reply from maisymoos

Needs of both parties will be the main consideration, especially those of the children. In theory ideally you both need 3 bed houses, if you are to have the children to stay.

Is there a large mortgage? Is the current house above the needs of two children and one adult?

bikemad650
Posted by
Premium Member

10 May 12 #329644 by bikemad650

Reply from bikemad650

current house is a 3 bed but in a nice location and there is cheaper 3 bed houses for sure, theres 40k owing and and house valued about 185k

hawaythelads
User is blocked

10 May 12 #329649 by hawaythelads

Reply from hawaythelads

£35k....£40k and your car.....and keep your pension..... Let me know when I''m right.
All the best
HRH

maisymoos
Platinum Member

10 May 12 #329650 by maisymoos

Reply from maisymoos

A lot needs to be considered, for example how much cheaper would a cheaper property be? I assume your wife needs to remain in school catchment to get a place for your youngest at the secondary school. You also need to consider buying and selling costs, and how much these will eat into the equity.

What will be your respective mortgage raising capabilities. Are you currently paying child maintenance?

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