My husband and I are both 60 and have been married for 18 years. We have a son of 17 who will be 18 in March. He lives with my husband because it is near his work, but visits me regularly.
My husband moved out 18 months ago and bought a flat using the proceeds from the sale of our house in London as a deposit (£70k), with a mortgage of £100k. I continue to live in the marital home valued at £340k with £170k outstanding on the mortgage. I am unable to get a mortgage in my own right since I am self-employed.
My husband and I saw a mediator for a few sessions but he then stoppped going and hired a solicitor. He has a pension pot of £420k and is reluctant to give me any more than 17%, because he contributed to the pension for 10 years before we married.
My main concern at the moment is where I am going to live. I manage to pay the mortgage on the house where I live by having two students, plus I use the garage to do upholstery. This means I can cover all the bills and do not ask my husband for any money. However, he wants his name removed from the mortgage which means ?I will have to sell the house and buy somewhere smaller and will lose my income.
I have never lived in rented accommodation and am terrified that once I start, I will never have a home of my own again. I wondered whether to ask if I could stay for two more years when my state pension will kick in plus wehatever pension I receive from him and Santander have told me that they would give me a 15 year mortgage on that income.
Any ideas anyone?!