Hi, can anyone help me please?
My husband walked out on me 16 months ago and I need some advice.
We had been together for 25 years but have only been married for 8 years.
We have 2 grown children the oldest is 24 and no longer lives at home and the other is 21 and still lives with me in the marital home.
My husband wants to sell the house which I have no problem with as it is full of unhappy memories for me.
I am employed and Earn £17,000 pa before tax etc
My husband is self employed and earns about £35,000 pa before tax.(or so he declares to the tax man)
The house is valued at £320,000 and we owe the mortgage company £127,000.
Neither of us have pensions or any other savings (that i am aware of)
I will need a 2 bed property for myself and youngest child.
My husband is at present living in rented accom and pays £70 per week rent, he is still paying half the mortgage and the council tax but has left me to pay all the other bills for the household.
Can anyone advise me as to what percentage of the sale of the house I can reasonably ask for and also could I claim spousal maintenance?
Any advice would be great, thank you.
The starting point would be a 50/50 split, this could then be adjusted to take acount of your different incomes.
Unless your son is disabled then he would be considered an adult so there is no automatic presumtion that he should still be housed / supported by you. If he is still in full time eductation this might alter the situation slightly.
A 50/50 split ofthe assets would give you each around £90K. One issue is what your respective needs are. It''s likely that you would both be seen as having the same needs - to rehouse yourselves. The difference is that your husband is likely to have a higher mortgage capacity so he would be able to re-house himself to the same standard with a lower lump sum
You would need to look at what property prices are like in your area, and to make some enquiries about your mortgage capacity. - i.e. if you can only borrow £10,000 and would need a minimum of £120,000 to rehouse, you would be arguing for a split of the capital to give you £110,000, which would leave your ex woth £70,000. That would mean he would need to be able to borrow £40,000 to be able to re-house. If he can only borrow £20,000 then it would not be fair to split the capital in that way, as it would leave you rehoused and him unable to do so.
Your husband will need to do the same.
As he earns more than you it is likely to be reasonable for there to be an adjustment in you favour OR for him to oay maintenace, but not necessarily both.
how old are you both?
These days, a court tends to look at the length of the relationship, not only the marraige, so would treat this as a long (25 year) relationship, not an 8 year one.
Hi, and thank you so much for your reply.
In answer to your Questions:
I am 48 and my Husband is 47.
The average price of a 1 bed flat in the same area is £150,000 a 2 bed is £160,000 and The bank have said that I can only borrow £46,000 on my wages.
I understand what you say about the youngest child being 21 and classed as an adult but he couldn''t possibly afford to rent or buy( as he can''t get a mortgage) anywhere in our local area which is also where he works. Also he has suffered enough through all of this through no fault of his own and needs a roof over his head.
Hope this helps