I wuld be grateful for any advice.
I am divorcing my husband for adultery (unreasonable beahviour) married 14 years. He takes home £3999 a month and is paying me £912 a month to look after this hige house, sort out the decor, get it on the market etc etc
His CETV is quoted (although he twice lied) as £300,000 and he is ten years younger than me- I am 52 and he is 42.
I am not clear what I am entitled to as when we met I was the high earner but cashed in my pension to do this house up.
I have heard it said I am entitled to fifty per cent of seventy per cent of his pension- does this sound right?
Also- would I have to take this as a pension pot or would I be able to realise some if not all, in cash to pit towards buying a new home?
The house we are in has a £196k mprtgage but is worth £400k which is what we will put it on the market at. I thought I might keep the house and forego the pension but its a big house for one person and I may be better off splitting the equity with him and having the pension. Can anyone tell me if this is possible? Do lenders ever lend against the value of a pension?
Many thanks and kind regards
You need proper advice on this and a full understanding of the pension arrangement, what it is worth and what a pension share would mean in terms of cash sum / income. As mentioned, you can''t cash in a pension although you can take a proportion as a cash sum when you draw pension which would be age 55 at the earliest.