Hi,
I'm in the process of divorcing my husband. We have 2 primary age DC. So far, I've been able to stay in the family home as his work provides accommodation for him at his place of work.
I've got a lawyer, spoken to our mortgage company, and done some rough calculations (hope to start negotiating a settlement soon) and I think I could push to stay in the family house. His maintenance plus what I earn would enable me to cover the mortgage and have a decent level of living.
H is against this, and wants to sell the family home, split equity, and him get a small flat and me downsize with the kids.
He wants (and even I agree he needs) to buy a small flat in order to see the DC on his contact weekends (currently he has to stay with relatives when he has them).
But I think he could do this without selling the family home - he has enough company shares (around 200k) to sell some of them and fund a deposit.
So I have 2 options:
- Push to stay in family home (take 100% of the roughly 600k equity in it), but in order to do this I'd probably have to sacrifice any claim to his shares. I may also have to accept a smaller share of his company pension.
- Sell up, take a good bit of the equity, and downsize.
In both scenarios, my monthly mortgage payment would be about the same. But in option 1, all my assets (bar what I negotiate from his pension pot) would likely be sunk into the house. In option 2, my assets would be more evenly spread (a less valuable house, but possibly a bit more in the pension pot and maybe some shares too).
I really CBA to move house, but wonder if this is the financially prudent thing to do.
Should I be spreading my 'investments' more evenly? Would it be unwise to push to stay in the house?
Also, has anyone used a financial advisor to address these types of questions?
Great to hear from others who've had experience of this.
Thanks!