Deciding how to split house equity after separation

kimwp

Exodi said:

kimwp said:

Why on earth should he get half when you need to house the kids and will be looking after them?! There are four of you and one of him, I suggest the equity gets split that way, at least until the kids are grown up.

That's what maintenance is for.

Maintenance is 12% of gross income, which is roughly 18% of take-home pay, happy to be persuaded otherwise, but it seems a very small amount to contribute to the housing and care of a child (though I know this is the intent of child maintenance)

gwynlas

If and/or when you come to sell the house there might well be ways in which you can still have individual bedrooms for the children. For example you could look at using a reception room as a bedroom for yourself or as a family member did by creating a single bedroom for the eldest child by having a stud wall partition built in a L shaped room. In time this space could be reincorporated into the larger room or have an alternative use.

jjj1980

kimwp said:

Exodi said:

kimwp said:

Why on earth should he get half when you need to house the kids and will be looking after them?! There are four of you and one of him, I suggest the equity gets split that way, at least until the kids are grown up.

That's what maintenance is for.

Maintenance is 12% of gross income, which is roughly 18% of take-home pay, happy to be persuaded otherwise, but it seems a very small amount to contribute to the housing and care of a child (though I know this is the intent of child maintenance)

 It a huge difference but for 3 children it’s actually 19% of gross income.  

kimwp

jjj1980 said:

kimwp said:

Exodi said:

kimwp said:

Why on earth should he get half when you need to house the kids and will be looking after them?! There are four of you and one of him, I suggest the equity gets split that way, at least until the kids are grown up.

That's what maintenance is for.

Maintenance is 12% of gross income, which is roughly 18% of take-home pay, happy to be persuaded otherwise, but it seems a very small amount to contribute to the housing and care of a child (though I know this is the intent of child maintenance)

 It a huge difference but for 3 children it’s actually 19% of gross income.  

True.

It just seems strange that pre-split, someone would probably be contributing 50%+ just on the housing and bills, then paying for food, clothing and fun on top of that for it to drop so much. Particularly when the person receiving it is taking on the work of looking after the children.

GreenCat80

Did you manage to come to an agreement @KaratePigeon? I’m going through a similar thing atm, although we have now agreed I will buy him out. It’s very stressful isn’t it? I hope you’re ok 

Me_v_The_Mortgage_Mountain

Hi All

@KaratePigeon and @GreenCat80

I don't know if this will help but when I was in a similar position a couple of years ago I took out an interest only mortgage to buy out my ex, that way myself and DD could remain in the house as per her wishes.  Being interest only meant that I was only obliged to repay the interest element each month, currently £135pm.  I am making extra payments of £750pm to repay the capital but it is reassuring to know if the worst happened and I lost my job I would only be committed to the £135.

Longer term I can either continue with my capital repayments, sell up and downsize or repay with a future windfall/inheritance so plenty of options for when DD is older.

Good luck

MvTMM