Anyone help or advise please?

Hovel_lady

Did you have any kind of legal agreement drawn up to say that you would get the £24k back in the event of you splitting and the house being sold?
If you did then the house being valued less now is not relevant although I agree that he might not be able to afford to buy you out (looking at the figures you have quoted).

mgdavid

VfM4meplse wrote: »

...........
I'm normally all for the amicable solution but in this case would seek legal advice and then take him to the cleaners. What's to be lost?

what's to be lost is one's self-respect.

duchess67

Well it was once good between us and I would like to go back to that. He is civil to my son but his attitude has concerned me over the years too - he is very cold and distant to him. I am very close to my son who says he is not bothered. He is almost 18, and doesn't spend a lot of time around me or home. Husband has 2 children by first marriage and only thing he does is pay for them, he has little contact with them, and they never contact him. They are 10 and 11 years old. As for taking him to the cleaners? I would never do that, I couldn't live with myself. Thank you for reply.

duchess67

And yes hovel lady we did have a document drawn up by the conveyancing solicitor.

peachyprice

duchess67 wrote: »

Thank you - should maybe mention - that I put in £24,000 when we bought this house, but assume I would have lost it due to recession (bought for £190,00, valued £175,000-ish). Not ure he could afford to buy me out, but he could afford the mortgage repayments - as a short term fix I would settle for this. We are both quite miserable living like this. Thank you.

If there's £139k left to pay on the mortgage and the house is worth £175k there's enough equity for you to get a large % of your £24k back, the fact you bought for £190k is irrelevant.

Hovel_lady

If you do decide to split up I would suggest seeing a solictor even if you don't decide to divorce immediately.
If you do get divorced then the house will be one issue that will need to be sorted out.

This may help...

http://www.wikivorce.com/divorce/Divorce-Advice/

duchess67

Thanks peachyprice, I guess I am thinking what do I do short term rather than in the longer term - I'm not sure what you can buy for £24,000 so I tend to forget about it. I am more worried about how I would rent somewhere on such little wages. Thank you.

VfM4meplse

mgdavid wrote: »

what's to be lost is one's self-respect.

I don't think so! The OP's husband is earning a good wage and should have enough respect for her to support her financially until she is able to do so herself.

I'm the most ardent feminist, but would let the law decide on what is right and fair in this case.

duchess67

Well he pays quite a lot in child maintenance for his children - and his ex wife is always making more demands so I can't be too hard on him. I am capable of finding another part time job even though they are thin on the ground!

Newly_retired

You will be assessed as a single person for Tax Credits so you should get more WTC, and CTC for a few months.
You may be eligible for Housing Benefit to cover rent and maybe Council Tax Benefit. At least you should get 25% off CTax as a single person.
Hope this helps