House and divorce

cellarboy

Filey wrote: »

I

So far i don't think you have mentioned your wife's views on the matter, or maybe I missed it.

I haven't she just buries her head in the sand and hopes that its just a phase. Doesn't really want to admit it has reached this point.

barnaby-bear

cellarboy wrote: »

Just after some advice really on how things will work in a break up. There are two kids both still at primary school but as parents we dont get on and there is no love anymore so its time to look at our options.

Basically we have a house on a joint mortgage is £520 a month. I would be the one to move out and she will look after the kids but still works both our parents look after the kids after school so there is no child care costs.

All our debt apart from the mortgage could be cleared from savings as its on £600. The mortgage remaining is £79000.

I bring in £1500 a month and she brings in £2000 a month after tax.

Looking at the CSA website I would have to pay £290 a month in maintainance plus I'd assume half of the mortgage which would be a total of £550 leaving me with £950 a month.

I want to stay close to my kids and rent plus council tax will cost me £4-500 a month for a studio flat, leaving me £450 a month for bills and food and petrol.
I am just concerned that I cant actually afford to leave.

Have I got my figures right over the mortagage etc? Or would we have to sell the house and my partner and kids would have to move elsewhere and split the house? I just don't know what happens in this situation and though some free advice from here would be cheaper at this stage than a solicitor.

She's bringing in £34k ish a year which means with a £79k mortgage she could take it over. If you carry on paying the mortgage you should see a solicitor about having a charge to have the equity when the kids leave or look for a clean break - perhaps relinquishing current euity in return for no late claim. I'd go for a clean break do you really wnat to be trying to enforce a charge when the youngest turns 18? Free advice all well and good but in this scenario like a good survey when buying a house you need a specialist family laywer who really knows hteir stuff. You need to sort out issues like claims on pensions etc. and consider youself what if you met someone else - do you want the permanent credit tie of a mortgage with your ex etc. Unusual in that she's the higher earner and your family effectively providing free child care.