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CSA Rules with assets
lewis198
Posts: 9 Forumite
Hi
Hopefully someone may have the answer to my situation.
2 children from previous relationship. 20% of net salary being paid through CSA.
Wife with one child living in marital home but house in my name. About to splt up will move to my buy to let property as tenants just moved out.
Looking into this think I would be right in saying that if we all go through CSA they will take 25% of which ex will get 2/3rds and wife 1/3rd.
But can csa consider me having assets over the £65k other than the marital home? As this will be my home and my other home will be occupied by my wife and child.
Marital home value £190k and buy to let £150k.
Would placing the marital home in joint names or her name make any difference?
Shall call the CSA but would appreciate in advice here, thanks.
Hopefully someone may have the answer to my situation.
2 children from previous relationship. 20% of net salary being paid through CSA.
Wife with one child living in marital home but house in my name. About to splt up will move to my buy to let property as tenants just moved out.
Looking into this think I would be right in saying that if we all go through CSA they will take 25% of which ex will get 2/3rds and wife 1/3rd.
But can csa consider me having assets over the £65k other than the marital home? As this will be my home and my other home will be occupied by my wife and child.
Marital home value £190k and buy to let £150k.
Would placing the marital home in joint names or her name make any difference?
Shall call the CSA but would appreciate in advice here, thanks.
0
Comments
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If you already have a child living with you then the percentage is smaller being 20% of 85% of your net pay.
However, it will be 25% going forward.
The house you live in is ignored when calculating your assets.:footie:
Regular savers earn 6% interest (HSBC, First Direct, M&S) Loans cost 2.9% per year (Nationwide) = FREE money. 0 -
Thank you.
What about the asset that my wife lives in? Would this count as half the value ie. £95k?0 -
The value of the property your wife lives in will be ignored.0
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Called three child support centres, none of them had a scooby!!
Seems like you will not have an answer until your in that position. Which puts you in the mercy of some unknown person making such a decision.0 -
I don't fathom this.
You are willing to give your current wife and 1 child a home in her own name so that you don't have pay more to your Ex Ex and 2 children?
Is that what you are saying.0 -
Actually probably a house and some more!!
Believe a divorce would result in me losing 3/4???
25% of salary = £450 + 8% of £150k (or possibly £190K) PA = £1k pcm
Leaves me with £350 pcm to live on!!
Think it may be fathomable now?0 -
Would my local CAB office have the answer or some sort of solution for me? Or would I be wasting my valueable time and not bother?0
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Would my local CAB office have the answer or some sort of solution for me? Or would I be wasting my valueable time and not bother?
Go on to the actual CSA thread on here. Loads of really knowledgeable people on there. (No offence intended to anyone who has already answered)I'm never offended by debate & opinions. As a wise man called Voltaire once said, "I disagree with what you say, but will defend until death your right to say it."
Mortgage is my only debt - Original mortgage - January 2008 = £88,400, March 2014 = £47,000 Chipping away slowly! Now saving to move.0 -
Any property that you, or a child of yours lives in, can not be counted as an asset for a child support variation. Can quote the law for that if you need it.I often use a tablet to post, so sometimes my posts will have random letters inserted, or entirely the wrong word if autocorrect is trying to wind me up. Hopefully you'll still know what I mean.0
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Thank you seems that I now have my answer :-)
Does anyone have a link to this CSA thread as I cant find it and would like to know about payslips/income etc regarding CSA.0
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