I have been married 25 years - my husband is 65 and is semi retired. He has his state pension (£500 pm), a small company pension paying around £240 pm and a small business, gross profit around £10000 per year.
I'm 47 and work full time - net pay around £1150 per month.
We have two 'children' aged 21 (working) and 19 (at college) - both live at home. Altho I realise they are beyond child maintenance ages we cannot simply kick them out - they will have to live with one of us (me, as my husband said he doesn't want them). marital home is worth around £340K with £30k mortgage.
We also have 3 rental properties. The deposits of all 3 houses came from the money (£103k) I inherited from the sale of my parents' house when they died 4 years ago.
House 1 current value £140k mortgage £86k
House 2 current value £128k mortgage £75k
House 3 current value £150k mortgage £101k
As my husband is retired, will i have to pay him maintenance?
Will everything be shared 50/50?
He said he would not want a buy to let mortgage but would want to keep 1, 2, or 3, of the rental houses.
Becuase of his age, the third house is in my name as we could only get a mortgage for 4 yrs if we'd put it in joint names.
The practicalities of selling 4 houses is too much. Also I don't like the possiblity of making 3 other families homeless if we sell their homes too.
If we had a 50/0 split, I think he could use the money raised from the sale of our home to pay off mortage on house 1 which he would keep. He has said he will rent a place for himself as he cant face buying alone.
I could keep the other 2 houses on BTL mortgages with a cash adjustment on the equity of the marital home.
Would that be seen as a fair settlement? With 50/50 we would each get around £225k value in either cash or property, so plenty to rehouse himself (or pay off one rental house and rent a place for himself) I will have to buy 3 bedrooms to accomodate our grown up children.
Sorry, its a complicated one. Anyone got any thoughts on how / where we begin to divide it all up?
Cant really help you as i have no idea whats fair or not, but what about trying to put all your figures in the Divorce Calculator on this website, maybe it can give you a rough idea. I tried it but it wasnt much use to me in my case.
Simple!!! Move on and start afresh. Sell everything and share 50/50. buy something new with no past attachments and no bad bad bad memories. Look to the futrue and enjoy life. Sounds tough but true.you,ve got nothing to lose.