I have been trying to work out a reasonable starting point for a consent agreement and one thing has occurred to me that I have not really taken into account.
When I met my wife I was already in the process of buying my home. At that point I believe I had about £45K equity. When we married we decided to move and bought a new house using the £45K as a deposit.
Does the £45K that I brought into the marriage go into the pot, or does this get excluded because it was a pre-marital asset.
I fear the answer is that it will go into the marital pot, as everything about divorce seems to be illogical when it comes to the finances.
I think it will depend upon the length of the marriage and if there is enough assets to provide for the needs of both parties.
My partner was in a similar position, in that he put the equity from his first property into the MH. There wasnt enough assets for the pre martial asset to remain totally his, but it did mean he got a 50/50 share rather than the usual 40/60 in the ex wife favour.
Equity from a property I owned before Marriage was sufficient to pay more than 50% deposit on the house we purchased together.I was told this wouldn''t be taken into consideration as the marriage lasted 15 years.I had owned my own property outright before the marriage.
The length of your marriage is probably an important factor for you.