We separated 2½yrs ago, I left my wife in our semi-detached (joint names) with our 3 children paying her
child maintenance of £500/month. Last year I bought a terraced house in my sole name for £100,000 on an ‘interest only’ 5yr fixed rate mortgage which was all I could afford. I thought that if she stayed in the house for another 4yrs then when our youngest left college we could sell the house, and after paying back the £20k mortgage I would be entitled to half the equity (£90k) to pay off most of my new mortgage.
Since buying this house, my wife who hides behind her solicitor, stated that she wants all the equity on our house (£180k), she will let me keep my good company pension of 28yrs intact, Child Maintenance (this has never been a contentious issue) for the 3 children and also maintenance for herself until the youngest leaves college.
I rejected this stating my reasons for wanting half the house and that I would be only too happy to let her have a
pension sharing order for the 21yrs we were together as she had no pension of her own. I said I didn’t have a problem with Child Maintenance payments (using the CSA online calculator) and that I was even willing to pay her an additional sum of half the mortgage payments on our joint home until the sale of our house. I rejected the maintenance for my wife.
She replied with exactly the same offer but dropped the spousal maintenance.
I declined this and repeated that my last offer was more than generous and was still on the table. She again rejected but said she is now willing to settle for 85% and let me have 15% of the equity but still insisting she wants nothing to do with my pension
In the last year things have changed in that our eldest has left college so am not paying maintenance for him. Our middle son (in 1st yr at college) has permanently moved in with me so not paying maintenance for him neither, therefore only paying her for £265 for the youngest who has 1yr left at senior school and 2yrs at college.
She now wants to put the house up for sale immediately while we are still negotiating, I know she can’t do anything without my permission. As I rejected her last offer of 85% - 15% I have just been issued with a date to appear in court to settle financial matters there! we have had the
Decree Nisi now for well over a year.
We are both 47, I have a full time job with a decent salary of £38k whereas she chooses to work just part time for a small salary of £5k. To think that she stands to receive £153,000 where she can buy a house outright for cash and lead the life of leisure for her natural, and I receive just £27,000 and have to work for god knows how long to pay off a £73,000 mortgage just totally infuriates me! Not wanting to appear morbid but it will be another 13 - 18yrs until retirement and I may never actually reach that age at all ! hence I do not value it that highly.
What should I expect if it went to court, what would they decide??? Can they force me to keep all my pension and make me accept a reduced stake in our house??? What would I reasonably expect to come out of this situation with? I am exasperated as this has been going on forever and can’t get a straight answer out of my solicitor as he says it’s a lottery when it goes to Court and is dependant on the Judge …. great answer.