Advice Needed Please....

missym0j0

Advice needed please....
The background on my prob goes like this:
December 2007 - bought a house with husband, no deposit, it was 100% mortgage.
May 2008 (after 5 months)we agreed to separate and he moved out and hasn't paid a penny towards the mortgage (interest only at this time)
We go to Court in March to finalise everything and he's asking for 50% of the profits if it's sold.
Co-incidentaly - we have 3 children that live with me - he's not contesting that, but want's the house sold or for me to buy him out.
I'm unclear on what my rights are, seeing as he hasn't paid anything.
Any advise would be greatly appreciated...

Theogirl_2

Are you sure there is equity in the house. You bought it at the top-ish of the market and you had no equity then.

To be honest I think that this might not be the best place for this questions as it relates to the division of assets on a divorce. My very sketchy understanding is that unless this is classed as a short marriage the starting point is a 50/50 split of whatever. You three children though would tie up any potential assets I think until the youngest left school. Basically, lets both hope someone with more knowledge comes along soon!

ViolaLass

Do you have a solicitor? If not, I would have thought you need one. If you have children dependent on you and you've been paying the interest on the mortgage, I would have thought you would be entitled to a lot more than half the house.

However, I'm not a solicitor and that's who you need to ask.

getmore4less

missym0j0 wrote: »

Advice needed please....
The background on my prob goes like this:
December 2007 - bought a house with husband, no deposit, it was 100% mortgage.
May 2008 (after 5 months)we agreed to separate and he moved out and hasn't paid a penny towards the mortgage (interest only at this time)
Was he paying for anything, bills food?
We go to Court in March to finalise everything and he's asking for 50% of the profits if it's sold.
Is he happy to pay half the loss?
Co-incidentaly - we have 3 children that live with me - he's not contesting that, but want's the house sold or for me to buy him out.
I'm unclear on what my rights are, seeing as he hasn't paid anything.
Any advise would be greatly appreciated...

What do you want?