Hi everyone - im looking for some feedback as my wife and i have agreed a settlement. Married 15 years - daughter of 13. Wife works from home on £21000 - im on £20000
House valued at £175000 - outstanding on mortgage is £46000. Expected sale £165000 - £170000. Equity between £119000 - £124000.
She has personal debts of £20000 - i have £2000 on a credit card.
Wife would be maxing out at £40000 as she would have to borrow £40000, £46000 + keep her debt £20000 = £106000
I want my daughter to be well catered for and for me to be able to start over. We have agreed a deal of £40000 plus no maintenance. Whole package is worth £48000 - £49000
I have paid for everything and i mean everything including a £17000 downpayment. Im not bitter but have realised my wife's spending is uncontrollable. Over the last 10 years she must have spent in access of £40000. Most on herself although about 10% of it for the house.
There will be no legal bills as such. My wife will keep the house and my daughter will not have to move. I will be able to borrow enough for a one bedroom flat which will meet my needs.