hi, we''ve been married 9yrs on 2nd August, he moved in here sept 2002. I cant remember when he went on the mortgage though, probably within 2 years of being together. We have about £60k left on the mortgage. We remortgaged so we could have a first floor extension. We then took out a loan to pay off his credit card and other things, there is about £9k left. I have a pension which I dont pay into anymore, worth about £1400, he has 2 pensions from when he was a miner, 1 is £244.69 2, £394.57.
Im not sure the full value of the house in todays market, but 5 years ago we had it valued to go on the market at £250,000.00 we might be looking at now about £200 - £230,000.00. I hope this is enough to work on. I have 3 children all are 18 and above from my previous marriage, none to him.
The considerations here are need and contributions.
Did he bring any cash into the marriage? I would have thought a good start point for settlement would be 50% of the increase in the value of the property since the marriage. Each party would retain their own pension. Am not clear if the 9k mentioned is debt. If it is joint debt it could be split 50:50.
It would be helpful to know ages, incomes and the size of the FMH.
Maddie, hadenoughnow is right, the main issue ( assuming there are no dependent children ) is your need for a home and his.
It may well be that you will have to downsize. It could be that one or even both of you may have to rent.
So then, the first question would be, how much will you be left with after the house has been sold, and how is this to be divided?
That would raise the question, first of all, what are your respective needs for accommodation ? This is always a difficult question to answer in a forum like this, because, as I have said before to other people, having £100,000 in your bank account is one thing if you live in Birkenhead and quite another in Central London. For low income families the issue of benefits may come into consideration.
It would raise the question of what your post retirement income is to be.
The first thing a Court has to do is to meet your basic needs for proper accommodation and a decent income. Sometimes, there is not enough money to do this, and one or both parties may have to rely on benefits to make ends meet.
If you can, and if your ex will still talk, the way forward for you may be mediation in an unhurried and non-confrontational atmosphere.