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Can I afford to divorce DH and still have a home?

(2 Posts)
CowardlyNNChanger Thu 12-Jun-14 21:15:00

So after lots of discussion with councillor I have realised that I might need to divorce DH for my own sanity. We own (with a mortgage) a 4 bed house but I am happy to live in a 2 bed flat, would still be better than how we live at the moment.

I have been a SAHM for 5 years, joint decision. The equity in our house is around £180000 so if we split it 50/50 would be £90,000 each which is quite a lot of money. But I have no income. I am happy to go back to work full time, but would he be responsible for half of the childcare costs?

I also had an inheritance over the last few years of £150,000 which enabled us to buy this house. I am assuming that this will be counted in joint assets as we have used it to buy property, car etc.

If I go back full time I will have an income of around £25,000, but I have a 4yo and 1 yo so would rather be part time if possible.

What is taken into account? As it stands, I can't get a mortgage on my own so do I wait until I am earning again? Properties around here are about £170,000 for two beds and £190,000 + for 3 beds.

I know I need a solicitor but I am trying to work up the courage, is it possible to divorce and still have even a 2 bed house for myself and DC?

As I said I am happy to return to work but that would mean I have to pay childcare and a mortgage and I don't know if it will be enough.


MozzchopsThirty Thu 12-Jun-14 21:21:30

I don't know about the inheritance stuff.

However mortgage companies will want to see 6 months of bank statements. They would need to show income, maintenance etc.
You may be eligible for tax credits to help with childcare

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