Is this a fair settlement?

I''d have thought you would be more likely to pay SM if you keep the rentals as you''ll have a greater income. SM is based on need and ability to pay. Making yourself able to pay leaves you more liable.

So as it turns out after discussion that the the wife has her eye on more than just the marital home. So having considered this I think it may be wiser to adjust the offer and say hand over the marital home and one of the buy to let properties.

This would leave me with 2 which I could probably scrape a deposit from to buy a home. Or if necessary liquidate one to buy another closer to home.

However, this raises another question. Because my wife does not work owning additional assets mean that she would not be able to claim income support, or would there be an order made simply to sell the property?

I would interested to hear how this would work if anyone knows.

Bob.

Even if she sold the property she would have to declare that money to income support which would probably affect her benefits in the same way. Would it not be more beneficial for her to keep the property as a rental and live off that income?

Hi JSLGB,

There isn''t enough income from the property for her to live off. Would she still be entitled to income support if the house was sold and the money used to pay down the mortgage on the FMH?

If not it would seem to make better financial sense for her to just go with the FMH.

Does anyone think a solicitor would actually advise this?

Bob

If she sold the house and put it towards the mortgage on the FMH i imagine she''d have to do it in a lump sum and even then this may not entitle her to benefits. Also, income support isnt available unless you have children under 5 and i see your youngest is 5. Your ex wife wont get income support. I''m a full time student with a 5 year old and last year i was entitled to income support over the summer to help, this year i am not. Your wife would have to claim jobseekers allowance and they may take any child or spousal maintenance into consideration when awarding this.

Your best bet is to get in touch with a solicitor to see what they say and also contact the job centre to see what they can advise.