Separating no mortgage can I get a mortgage to buy partner out?

bowf

Thrugelmir wrote: »

While you won't touch his pension , there's no reason why you won't receive a bigger share of the property equity as compensation.

Sorry, what?
You think she might be entitled to a larger share of the property equity because she's looked after kids for X years?
I've never heard of this, what the respective partner's 'role' was being taken into account.
Where/when have you seen this happen?

elsien

bowf wrote: »

Sorry, what?
You think she might be entitled to a larger share of the property equity because she's looked after kids for X years?
I've never heard of this, what the respective partner's 'role' was being taken into account.
Where/when have you seen this happen?

The starting point for all marital assets, including pensions is 50/50 in this length of marriage. The suggestion is therefore to see how much the pensions on both sides are worth then for the OP to agree a larger share of the house rather than him having to work out how to give her her share of the pension. The end result is the same financially, it's just which bit it comes from in practice.
Perfectly normal practice which would also apply the other way round if the OP was the higher earner.

robatwork

stressedoutmum wrote: »

I have 2 small pensions one for around £3,500 a year which I can claim at 60 with around £10,000 lump sum and similar for second pension which is in my current job but not payable until state pension age as I would lose quite a bit to take it earlier.

He does have a small pension due as he had half pension due for the forces for 12 years service and I don't know what his current job pension is worth as he's been in it for around 25 years but I'm really trying not to touch his pension as he has worked for it.

Pound to a penny his 12 years forces PLUS a 25 year private pension is worth in the hundreds of thousands in transfer value.

Have a look at this http://www.sharingpensions.co.uk/pensions_valuations.htm

I revise my advice - you can negotiate the entire house AND a lump sum in your divorce negotiations. Ask him to get a valuation.
Of course if you choose to be "nice" and "not touch his pension" then you are also choosing to make your future a lot more unpleasant than it could be.

dimbo61

It can be a very difficult time when a relationship breaks down but you both worked hard to provide a home for your family and built careers.
You need to seek legal advice to sort out the assets of the marriage, property, savings and pensions.
Has you ex got ISA,s ? Stocks and shares, cars, caravan, Motorhome, boat, valuable collection of coins, stamps,wine, gold coins, secret savings accounts.
If you paid off the mortgage 5 years ago what happened to the mortgage payment each month ?
His pensions could be worth more than the house and your pensions.
The value of the family cars can even be taken into account.

Niv

bowf wrote: »

Sorry, what?
You think she might be entitled to a larger share of the property equity because she's looked after kids for X years?
I've never heard of this, what the respective partner's 'role' was being taken into account.
Where/when have you seen this happen?

This happened when my parents divorced. So it definately can and does happen.