If anything, I think it doesn''t sound fair to you - how are you proposing to buy her out? On a salary of 35k there is a possibility that you might not be allowed to take over the mortgage in your sole name, let alone increase it by 25k to buy her out, of that was what you were thinking.
However, you do have a claim on her pension. It would be worth her finding out how much this is, as you may be able to negotiate that you keep the house and 100% of the equity in it and she keeps her pension.
If she refuses to find out how much her pension is worth, I''m inclined to agree with soul ruler.
Thanks for the answers. My family will give me the money to buy her out. My mortgage provider allows for 4.5x salary mortgages and i''m meeting the payments without going overdrawn. One point though is surely it would be better to buy her out while the housing market is low?
I have to agree with the others you keep equity she keeps her pension.I would get the ball rolling asking her what she thinks, if you find she wants more then start divorce proceedings at least you will be in control of the process and it could take years.x
You would be better buying her out while the property market is low, but the fact still remains you are taking on the debts as well as property, and pensions are worth a lot. I think her keeping her pension while you keep the equity in the house is entirely possible, and then you wouldn''t have to buy her out ever. And nothing dramatic is likely to happen to the market in the next year or so, so you have time so negotiate. I think you might be under estimating the value of a pension. Not to mention your are allowing her a Clean Break rather than going for spousal maintenence, which, with the difference in your incomes you might be entitled to. As she isn''t paying sm, she''d be able to save up a deposit for her own place in no time, even while renting. (I''m assuming there are no children, as you aren''t mentioned any?)
Also, even if you agree financial matters a judge still has to sign the Consent Order to confirm it is fair, that both party''s are understand fully what they have agreed to make it legally binding. If you don''t know the value of her pension then he might refuse to sign it anyway.