Property (details inside)

I am recently divorced.

For the past 4 years I have paid the mortgage for our house with no financial contribution from my now ex-husband. We both contributed to the deposit.

He wishes to sell the house and split the proceeds 50/50, whereas I want to keep it.
[The value of the property is £320,000 with £150,000 outstanding on the mortgage. He wants to split the equity.]

We have 2 children aged 10 and 13 who live with me in the house. He has taken no responsibility for them, financially or otherwise since he left 4 years ago.

This is going through the courts, but I''m just wondering what the likely outcome will be?

Thanks

How big is the house? would you be able to buy a cheaper 3 bed house in your area?

Yours and the childrens housing needs will be given priority, but it all depends on figures and affordability.

(1) If the mortgage you''ve been paying is a repayment mortgage then it is reasonable to take into account the amount you''ve paid off the capital in the past 4 years

(2) Your respective finacial needs and the needs of the children are relevent. One issue is whether your and the children''s needs for housing can be met.

It is unlikely to be reasonable for you to keep all of the equiy - one issue would b how much you could raise now to buy him out, and, if that isn''t possible, whether it is feasible flr you to get him relaesed from the mortgage nd whrther it is practical for you to move into a smaller property to free up some of the equity for him.

Equally, unless you are a higher earner than him, or have significant other assets, it is unlikely to be reasonable for him to have as much as 50% of the equity, as on the face it it your needs are likely to be greater, as the children are with you.

If it would not be practical for you to buy him out now or to downsize to free up some of the equity, a court could make a Mesher Order, entitling him to a % of the equity once the younger of the childnre leaves school.

The % split will depend on other issues including your respective incomes and earning capaciies,mortgage capacity and housing needs.

Is there any reason why you have not sought child support? If your ex is still not contruting to the children now it may be sensible to look at applying via the CSA.