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Rough equity amount to aim for?

  • yakyak
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02 Aug 22 #519739 by yakyak
Topic started by yakyak
Hi, I'm just after setting some expectations really for myself.

Currently going through divorce and my wife is insisting on negotiating finances through the solicitors, so I've got to complete a form E .

2 children, aged 13 and 16. (Will be 14 and 17 when it goes through, both still in education) My wife has convinced them to stay with her for now.

400k equity in the family home, 70k gross income for myself, 34k gross for my wife.

Pensions - me 9k per year at present on retirement (aged 40 at present), wife (aged 46 at present) 11.5k. (I'm getting CETV but have read that courts now look at income in retirement rather than pot values for pensions)

Would anyone know what a fair settlement from this would be? We are going down the route of selling the family home, however my wife wants 85% equity or £340k, which I'm not sure is fair?

Any help appreciated.

  • Djsmith
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02 Aug 22 #519740 by Djsmith
Reply from Djsmith
Looks as if x is being greedy (Not fair)

  • hadenoughnow
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03 Aug 22 #519742 by hadenoughnow
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Financial settlement is based on needs. How much will a 3 bed property cost to buy? What size mortgage can you each realistically obtain?? Your housing needs are similar. The children need to have a home with each of you.

There may be an unequal split of equity but it will be dependent on this. 50:50 is the start point for division and there has be a very good reason to depart from this. The scenario you outline seems unlikely:
usually the upper range is circa 70% but like
everything in family law finances it depends on the specific circumstances.

Using solicitors risks just eating into the funds available for rehousing. The process of financial disclosure should be straightforward, mediation can help you to resolve things or simply just talking to each other!!!

Hadenoughnow

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