Apologies in advanced for my incoherent ramble, but so much has happened I just don't know where to start. I'm sure I've probably missed off plenty of information so please feel free to ask anything.
Have been visiting Wikivorce for a while but this is my first post. I'm really just asking for some impartial advise and possibly just being pointed in the right direction.
I'm at my wits end as to what to do and it's having and has had a huge affect on my mental health.
Left my wife coming up to 4 years ago and we are still legally married. There is zero communication between us as things got very messy. She was issued with a restraining order which has since expired and I have tried to communicate to sort things but this isn't working at all.
Current situation is as follows -
No children, married for just under 10 years together for approx 17.
Work - I work full time (30hrs) and bringing home £14,500 annually. She has said she isn't working since August 2019 but I am not sure how true this is.
marital home - Currently valued around £200,000 with £65,000 Mortgage left. Wife still, as far as I'm aware, still resides here. She has, since January, refused to pay her half of the Mortgage so I'm having to pay the full balance. Have made mortgage company aware and I'm obviously liable for full payments as is joint mortgage.
Inherited Property - I inherited my Grandmothers property towards the end of the marriage (October 2017) and this is where I moved to when I ended the relationship. It was valued, for Inheritance tax purposes at £215,000 in 2017. Going off Zoopla valuation now (which I understand is a very tough figure) it is currenty valued at £380,000 and is Mortgage free. Have been told by a Solicitor previously that this should be ringfenced from Marital finances as was inherited close to the end of the marriage and was not mingled in our finances. I do understand this isn't a guarentee though.
Debts - I have approximately £25,000 in debt across loans and credit cards accrued after we seperated. She has also said that she has a £20,000 debt in the form of a loan, also after seperation.
I am now looking at moving out of my property and renting it out as a means to try and keep up with the mortgage payments and clear my debt. Would I be allowed to do this?
I have been told by Solicitors that if this went to court I could be looking at about £50,000 in legal fees if she isn't amicable. I obviously have nowhere near that sort of money.
I'm at the stage now where I can barely afford to live and I just don't know what to do. I've looked at getting a mortgage on the inherited property but I've been told I don't qualify. I'm maxed out of Credit Cards and Loans and am in a proper bad place.
Any advise on what the next best logical step would be would be hugely appreciated.
Yes we are still married and have not yet even started the divorce proceedings due to lack of funds.
How do you see the Inherited property being part of the pot? Do you mean because I would potentially be renting it out and the finances from that? I solely inherited the property and I'm the only named person on the land registry.
Pardon my ignorance but what is the form E, is this something I can start myself without the need for legal help?
As for moving out and renting the property out it would give me a healthy cash injection every month that I could then use to start to pay off debt and start to hopefully fund a divorce. Without doing this, in the next couple of months I reach a point where I can't afford to pay anything. Hence my desperation. I had thought about a lodger but not sure if it would bring enough in. I certainly don't want to rent out if I can help it, it's my home but I'm very desperate.
Many thanks again for your reply, given me some food for thought.