Husband cheating. Need help with finances before I confront.

Kitten2019

Long story short. I’ve found out my husband is cheating on me.

I can’t see a solicitor before confronting him but need some idea on where I stand with our financial situation.

Prior to husband moving in with me 15 years ago I inherited a house. He lived with me 10 years in that house mortgage free.

We sold the house. It was solely in my name. Bought a new house, we are now both on the deeds of new house and took out a joint mortgage.

We have approx £100k left on the mortgage. Since moving to this house the value has increased by about £85k roughly.

I currently only work part time. We have 2 children one in nursery one in school.

My main concern is if I walk away i need to buy a house. As I don’t currently earn much money I can only borrow a small amount mortgage wise.

I will write the figures as it may help, but can anyone give me a rough indication of how much I would be looking at getting in a divorce settlement?

Inheritance house sold for £350k
Bought new house for £465k
New house now worth £550
Outstanding mortgage of £100k


Many thanks in advance

Accountant_Kerry

How long have you been married? and are you in England or Scotland?

gettingtheresometime

It might be considered devious but get copies of the latest bank statements of any accounts you may have jointly or details of his accounts including pension statements....& hide them somewhere that only you know

caprikid1

Starting point is 50/50 for all assets given the length of marriage it will be largely how hard you want to fight and how much you want to spend doing it / how reasonable he is.


Obviously you have not stated if you want to save the relationship ?


What will £220-£250 get you courts will probably award you a bit more than 50/50

Mojisola

Kitten2019 wrote: »

I currently only work part time. We have 2 children one in nursery one in school.

caprikid1 wrote: »

Starting point is 50/50 for all assets given the length of marriage

If you are going to be the main carer, you have a good argument for the split to be more in your favour.

Kitten2019

Thanks for the replies.

In England and been married 12 years.

Mojisola

It would be worth getting familiar with the process -
https://www.wikivorce.com/divorce/

meer53

Don't even think about walking away ! Take your time once you have confronted him, there's no rush to do anything, it's way too soon to be talking about selling and buying houses. Get some free legal advice

Accountant_Kerry

So its not a short marriage nor are you under Scottish law so its likely the courts will not favour you for bringing the inheritance into the marriage and that this will go into the pot with everything else.

So the starting point would be 50% of your equity so £225k.

You could probably get 60% in reality maybe a bit more if you are lucky and can prove you have deminished earning capacity due to looking after the children, or giving up a career etc, it really depends if you could negoiate with your husband that as you bought so much into the marriage you should keep it but the law is not on your side there unfortunately.

You can claim child maintenace and mortgage companies include this and some benefits as well as income.

comeandgo

What about work pensions? Their value will be brought into the pot too.

flanker6

I gotta ask . . .


Were you happy in the marriage before you caught him cheating? If so, is there any way that the marriage can be salvaged?


And, are you absolutely positive that he cheated? Could there be some chance, however small, that he can explain away your suspicions?