Splitting assets

Hi - working through divorce ourselves through courts but need bit of advise please re split of assets to put into a Consent Order and to enable us to come to amicable agreement....

PDH value £265K
mortgage £41K
informal loan from brother £50K
= Equity £174K

pensions
mine - final salary (built up to £10K per annum so far)
his - £9K in pot (doesnt contribute anymore)

my income = £40K aged 44
His income = £14K aged 49

I will be looking after kids full time - aged 14 & 17 (still in full time education) and hopefully raising a mortgage to buy him out of family home.

I want to be fair to both of us and build in something that may mean he doesnt have to pay maintainance as I dont think he will be able to afford it on his income - ie: give me a larger portion of house so that I dont need to get such a large mortgage...

Any thoughts would be appreciated

I think a good starting point is to look at needs. How much will your stbx need to adequately rehouse himself? In theory he could need a 3 bed property if children are to stay with him.

His mortgage raising capacity is going to be low

Thanks for reply.

Children dont want to stay with him - they/we want them to remain in family home in good area where they go to good school which means me buying him out. He can buy in less affluent area with about £80K but area isnt what he is used to. alternatively we have seen a shared ownership property at £68K with £220 per month rent in local area and near kids. He is happy with this but Im not sure how much I should pay him to be fair to both of us as with the rent payable he wont be able to afford child support and live to a reasonable standard. We dont want cost of going to solicitors to work it out as we are both very amicable about it and want whats best for eachother and ultimately the kids - just need to come up with the right solution

Could you afford the mortgage if you were to give him 40% equity i.e £69K?.Do you think he will agree to this?

You could also offer a share of your pension. What is your pension CETV?

You could agree not to ask him for child support that is a personal decision for you, although if you changed your mind he would not have a choice if you were to apply via the CSA.

thanks for reply..

I am happy to give him £80K (near 45/55% split in my favour) and half my pension and not to ask for support for kids seems as he wont really be able to afford it.

This would be on the basis that I have the contents of the house and that we have Clean Break agreement.

He doesnt seem to be 100% happy with that but I think its really fair as the kids are fairly expensive as my daughter does loads of air cadet and duke of edinburgh stuff which i will be paying for and which i want her to continue with - tbh its all i can afford without selling the house. Any honest opinions would be welcome as I want to get the consent order through courts without it being turned down and i genually want to be fair to both of us without involving costly solicitors.

You mention that he does not see your offer as fair? Is that because he wants 50% of the equity? I suppose in theory he may have a case for SM but you seem to be dealing with things fairly if you are not asking for child maintenance.

If I was him my main worry would be that in the future you change your mind and seek child maintenance via the CSA I don''t think you will be able to write a clause into consent order to stop this. The CSA are very separate from the courts.

I suppose you could write something in that says you will pay him SM equal to any assessment made by the CSA for child maintenance until the youngest child is 18, so he is covered??? What do others think?