I am hoping to start negoiating with my xtb but need some advice that what I am proposing sounds reasonable.
Here is a quick round up of the facts:-
I am 45
Married 22 years.
21year old in final year at uni
18 yr old completing A levels (unlikely to go to uni)
15 yr old doing GCSEs and then A levels and uni
House worth approx £220,000 with £65,000 mortgage.
My annual income £22,000
Xtb annual income £46,000(this does include o/t but been average for the last 4 years.
We own a timeshare apt with a resale value of aprrox £6,000
Car valued approx £5,000 (xtb has company car)
Xtb has private pension (last valued at £50k giving an annual income of £3k)
I dont have a pension.
I would like to stay in the house until youngest has finished A levels. ie approx 2 and half years.
In that interim period would it be reasonable for xtb to pay csa maintenance of £300, plus half the mortgage (roughly £300)
I have worked out that with child tax credit and child benefit, this would allow us both to manage (me to pay the bills on present house and him to be able to afford to rent)
I know that in 2 and a half years time circumstances may have changed ie the eldest may have his own place (though given the current housing market this is extremely unlikely)I have therefore assumed all 3 children will still be 'at home' so to speak.
I have spoken briefly to a solicitor who says considering the age of the children and the fact that they are likely to split their time between the 2 of us, we would both need to purchase similar sized houses. My only worry is that on my salary I will be unable to afford a mortgage big enough to enable me to do this. Would it be reasonable of me to expect a bigger share of the 'pot' if I were to agree to forgo any claim on his pension?
I would like to keep the car in exchange for the timeshare property.
Sorry to be so long winded about this, but its obviously helpful to be as well informed as possible.
Your solicitor is taking the standard and reasonable approach that both side's housing needs should be met. Your xtb has the greater earning (fact) and the greater earning potential (likely).
That your children might split their time equally between the two of you is not a fact and on what basis is it even likely? On their ages? Twaddle! It'll be based on what they feel and where they feel more comfortable.
In your own interests I suggest you argue that while they may visit your xtb, your children will actually be living with you as their main residence (necessary to have such for tax purposes). It therefore makes sense for you to keep the FMH and your xtb to rent until he claws his way back onto the property ladder.
There is always the possibility for him to have a charge on the FMH so that once the children have left home you can downsize and he can get a chink of money to help him get a place of his own.
Everything you write sounds reasonable to me, except that I can't comment on pensions - they're totally beyond me.
PS I am also open to reasonable offers, especially on 29th February!
Thanks for your advice, hopefully xtb will see the sense in the children living with me as he is completely undomesticated and I dont want to see them ending up having to do all the cooking cleaning washing etc.