What on earth can I do?

I've finally got all financial info together and don't see how can get a Clean Break or any deal.

Salary me £50k (2788 pm)
x2b salary £5k
x2b income per month salary + benefits £1564pm

Married 14 years.
Children 11 yr old, 6 yr old.
Stay with me 1 or 2 nights per week.

House value 324,000 Mortgage 76000.
Endowment value 11k
Can't sell and buy anything smaller as this is roughly price of 3 bedrooms in area. Could get some thing in dodgy area, but she wont want that, neither do I for kids.

My CETV pension value £88k
Her CETV pension value £34k

No other major assets car 4k she wants, shares 1k.
No debts

What can I expect? What line should I be asking solicitor about? Wife thinks can't pay her way without contribution from me.

I have got rental place and moving in there as we just cant live together.

Any guidance appreciated.

Canary,

If it helps I had final hearing 1 month ago with very similar circumstances to yourself.

Me similar salary.
Her on benefits.

House equity very similar.
I had twice your pension.
We have just 1 kid age 15.

I got a sort of clean break (nominal SM at 1 pound/year).
She got whole house.
I got to keep my pension.

I think it is possible for you to get a clean break ....by letting her have 100% of the house.

DownButNotOut

Thanks for your reply. Trouble is she says she hasn't got enough income to cover the costs of running the house and with young kids I would no doubt have to pay SM for at least 5 years while my youngest is at primary school.

DBNO I'm surprised at your low SM and also that you think a clean break is possible in Canary's circumstances with the 6 year old.

Canary, your situation seems to be the typical one, your major asset is your house and there's not enough cash to buy two places.

It is possible that you'll have to rent for the forseeable future. The future needs of your x could be seen as less important than the current needs of the children and your wife has some pension and the means to contribute further so as DBNO says you could end up with your whole pension pot at the expense of giving her the house.

If that is the case she'll take over the mortgage (or change it) leaving her with a shortfall which you'll have to make up.

Questions to ask the solicitor? Tell him/her that you want to have a place to live where your children can stay with you in the security that they and you have been accustomed to. If the kids are same sex then they could share a bedroom. Perhaps you need to go for a sale of the house and your x to live in a 2 bed place. This would lessen the mortgage, lessen SM and give you a bit more to spend on rent?