Brief outline -
Together since 1997, married in 2005, separated in 2009.
Kids age 5 & 8, live with me. Me 35, him 37.
Bought first house in 1999, I paid 10% deposit.
Ex lives in FMH, I moved out into rented (I hung on for 7 months after separation but couldn''t cope with the awfulness).
He is paying all bills on FMH, I am paying all bills in my rented place.
Mortgage outstanding £96K, currently for sale at £225k, ex refused offer of £210k.
He pays statutory CSA £330 pcm privately.
His Salary £1650 (plus undeclared overtime), me on benefits, claiming legal aid, looking for work having almost finished retraining vocationally.
Him no pension, me work pension approx £23k.
So current offer is 60:40 split of equity (if he ever allows the house to sell having refused a great offer) plus half of joint savings (£5k each).
He refused mediation and is now self-repping.
I am hoping to either use equity to buy a home with mortgage for me and kids or (seeing as we''re all grown-ups, and these things have to be discussed) possibly extending new partner''s home to accomodate all the kids (I would not consider moving in with him unless all kids have reasonable space).
My query is this... I know that I will be required to repay Legal Aid. No problem with that. The thing is I expect that if this gets tricky it will cost me A LOT in court. Do I accept his offer as the pay-off of legal fees is going to be similar to any gain I might win?
He''s not seeing the kids atm, long story, his choice...
I''d be really grateful for your thoughts. Getting messy in court is a real threat, would I be throwing money away?
If 60/40 was his offer try and get 70/30.
If you then settle on 65/35 its another £5500 in your pocket.
OUT OF COURT I STRESS!!
Court fees start to get prohibitive to both of you.Do you want the money in your pockets at the end of the day or the lawyers?
If you take the equity as being £120k every 10 points represents £12k.
You two will rack that up in court fees.
60% of £120k =£72k
70% of £120k =£84k less solicitors fees you have to pay say £10k
So As I always see it do you want the money in the family pot or the solicitors pocket?
It''s got to better to leave the money in his pocket hasn''t it so hopefully he may be able to get a place and reestablish a relationship with the kids?
Percentages are not a helpful way to look at a financial split. What matters is how the needs of both parties can be met.
The question here is how much would a 2-3 bed place cost? At what point would you be in a position to get a mortgage? Have you any idea what your earning capacity would be?
If you have a lump sum that you do not use to buy property, your benefits can be affected.
This may well be a case where he does not get his share of the equity until the children are older
Is moving back to the FMH a possible option?
As far as costs go, you could self rep. If you are represented keep to the big facts and don'' t waste time and money arguing about small stuff. Keeping emotions out of it is hard but remember the court only cares about hard facts. Make sensible open offers.
You are PWC. You and the children need a home. There is an appropriate home (FMH). You cannot currently get a mortgage. You may be able to once your training is done. There is not enough money for you each to buy at present. A court may feel it is not appropriate for you to be housed by the taxpayer when there is another option.
Is he represented?
If he will not negotiate, you may have to take the
Court option especially if the current offer does not allow your housing needs to be met.