My husband and I are separating at the moment and trying to come to a financial settlement through a mediator.
Our only asset is our house (around 220K equity) but we also have a large mortgage and I cannot afford to pay anywhere near the £1200 monthly payment (I work part-time and look after our 2-year-old daughter), so it looks like we'll be selling. I'm hoping to take ALL the equity which I know is quite unusual(?) but that will enable me to buy a smaller flat for me and my daughter, with a small mortgage that I can just about afford (~£400PCM).
I'm prepared to waive future maintenance (other than CM at CMS rate) for a clean break if ExH will agree to this. We live in an area with very high rents (£1K+ for a 2-bed) so if I couldn't buy I would need to claim a large amount of spousal maintenance from him in order to pay rent on a flat.
He is bitter about this because he has paid a lot more into the mortgage than me over the 6 years we've been married and understandably doesn't want to lose all that equity. On the other hand he wants to buy again eventually and doing it this way will mean he has a lot more of his income left to save, rather than paying rent/mortgage for me.
I haven't chance to see my solicitor before our next appointment, so wonder how this looks to people with more expertise than me? Does it seem fair or would a judge never agree to it?
His salary is £50K; my PT salary is £20K. His pension CETV is around £10K more than mine.
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Divorce/separation
What do you think of this financial settlement proposal?
40 replies
MsFrazzles · 21/04/2016 16:25
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babybarrister ·
25/04/2016 11:08
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