I cannot figure this at all. Considering splitting up with husband but not quite at the place to do it just yet.
Recently relocated, renting. My problem is that we are about to buy a house. Haven't exchanged on it yet. I won't be able to pay for the mortgage myself. I am a SAHM and even if it doesn't take a long to find work, it would need to pay enough to cover childcare costs. So I think it'd be at least a year until I work.
When I do get a job.... It will never allow me to get a mortgage on my own. I was earning £30k 7 years ago so even if I got close to that (highly unlikely) I still couldn't even get a flat for us where we live. £250k+ for a 2 bed. I'm more likely to be earning half that.
So if we split equity rather than buy - about £150k so £70k each, I will be living off that, understandably (i assume) wouldn't get benefits. Until I find a job that'll pay rent. 2 bed flat £1200 per month (incidentally more than our mortgage repayments).
If we are 50/50 eventually on residence (once youngest is at school) I wouldn't get CSA type payments.
Do I just accept that I rent rest if my life?
Eventually I would hope that a divorce settlement would help me with pension for later years. But that doesn't help me figure what to do now.
It would feel grossly unfair to buy this house and then announce I want to split.
I know I need legal advice - and DH might have views or a solution once I pluck up the courage to talk to him. We're trying to work on things but it's not happening.
Just wondering what to do. Do we pull out if this house purchase? It's the first 3 bed in our budget in months so maybe we take the chance of our kids having a 3 bed house with garden near school and work out the 2nd property after that.
Any thoughts - or far too complicated a post???
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Divorce/separation
Separation - housing/mortgage confusion
5 replies
Acheybrain · 07/05/2016 10:25
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