Equity freeze - advice appreciated

Hi, any advice here much appreciated.

My wife and I have separated, house is on the market at 600k, our mortgage is ~280k.
I want my kids to have stability of staying in their home but I certainly can’t afford to buy my wife out, she can’t buy me out but could take on the mortgage with her current salary. 
I’ve come up with an idea of freezing my 50%of the equity and moving out to rent for a couple of years (my kids are 16 and 14) and my wife takes on the house, mortgage and bills. I couldn’t afford to contribute so that’s why I say freeze my share of the equity. Sell the house when at least one of my kids goes to Uni or whatever…
would I be doing myself an injustice financially? Is this a daft idea? I just need to run it by someone and this seemed as good a place as any!
Thank you. 


  • silvercarsilvercar Forumite, Ambassador
    44.9K Posts
    Part of the Furniture 10,000 Posts Academoney Grad Name Dropper
    First question is whether your wife can afford to take on the house mortgage and bills and would she want to. Reading some other posts on here (marriage board is a good place to look) she may begrudge you getting a fixed portion of the equity if she has been paying the mortgage alone for a number of years.

    Your idea commits you to renting if your savings are tied up in equity in this property, are you happy not to be able to buy in the short term?
    I'm a Forum Ambassador on The Coronavirus Boards as well as the housing, in my home and student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to [email protected] (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
  • AnniseleAnnisele Forumite
    4.7K Posts
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Do you have any other assets? If so, trying to deal with the house in isolation might complicate things unnecessarily.
    I'm thinking in particular of pensions - if (for example) your pension is much larger than hers, you might end up deciding that she keeps the whole of the house equity in exchange for you keeping your pension.
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