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Is this split fair?

(17 Posts)
EllieEllaBella Sat 11-Mar-17 10:34:21

There is around £200K equity in the house, neither of us can afford to buy the other one out but either one of us could afford to take over the mortgage payments.

I was a sahm for a number of years but now working again, earning considerably less than I would've been if I hadn't given up work but back on the career ladder with potential to earn good money in the future. I have very little pension provision, whereas H has a good pension.

Does this arrangement sound fair - I stay in family home until the youngest is 18 and dh rents. When the youngest is 18 we sell up and split the equity 65/35? Higher % to me to reflect the fact that I gave up work to enable him to further his career and build up a pension. Or is 50/50 the norm?

EllieEllaBella Sat 11-Mar-17 15:24:51

Bump.

BellsaRinging Sat 11-Mar-17 15:29:44

Depends on a number of factors which is why I would urge you to get some legal advice. In general if you are going to be paying the mortgage and the kids are quite young and you're not getting any of his pension this seems less than you are entitled to. Also depends on the discrepancy between your salaries, if any!

midlifenicethis Sat 11-Mar-17 15:31:07

A few questions ...

How long were you married?
How old are the DC?
Do you know approx how much H's pension fund is?
Do you have any other savings, investment and other debts.

Personally I think you can do better than your suggestion. It seems unfair that you pay the mortgage for the next X years and he benefits from the rise in the value of the house during that time.

Patriciathestripper1 Sat 11-Mar-17 15:35:12

Is t that the point of the 65/35 split mid?
What provisions if any have you made for repairs or upgrades to the property in the future?

midlifenicethis Sat 11-Mar-17 15:46:44

Well IMO it depends how big his pension is. He could be sitting on a £200k+ fund.

EllieEllaBella Sat 11-Mar-17 15:54:57

Thanks everyone.

I'm not exactly sure how much his pension pot is but his employer pays in 7.5%, it's not final salary or anything like that but it's amounting up whereas I have a very small pension pot.

The mortgage is around £700 pm whereas dh will have to pay rent of around £1000 pm plus I worked out that he will need to pay around £500 pm in maintenance he will not be rich by any means.

I don't think the the 65/35 split is unfair on me, but I'm worried it's unfair on dh. Currently dh earns double what I earn but by the time the youngest is 18 I think we will probably be earning similar amounts, dh maybe slightly higher.

EllieEllaBella Sat 11-Mar-17 20:27:02

Bump.

babybarrister Sun 12-Mar-17 10:48:16

Message withdrawn at poster's request.

EllieEllaBella Sun 12-Mar-17 11:01:46

Hopeful Bump! smile

EllieEllaBella Sun 12-Mar-17 11:02:46

Crossed post.

Thank you yes I know I do. Getting legal advice just makes it seem so final. 😕

WaitingInAzkaban Sun 12-Mar-17 11:09:08

Am I the only one who doesn't think it's fair that you get more than him? He's the one that's been paying the mortgage while you've not been working confused
If you both paid half before you stopped working and say, you've not been working for 3 years, then you should pay the next 3 years before wanting anymore than 50% if that makes sense?
It's not his fault he has a bigger pension than you.

WhippinPiccadilly1 Sun 12-Mar-17 11:14:18

Probably waiting. Given that she gave free childcare to enable him to work. hmm

llhj Sun 12-Mar-17 11:16:31

Well clearly you need a value on the pension. It could be tiny, just because employer pays in 7.5% doesn't mean much at all. It doesn't sound fair no. A clean break now would be much better so you need to think along those lines.

EllieEllaBella Sun 12-Mar-17 11:24:25

I've been looking after our children Waiting whilst he climbs the career ladder. If I hadn't been prepared to give up work he wouldn't have been able to accept the job offer as his job has involved extensive travel over the years.

I asked him how much he has in his pension pot and he said about £50k which doesn't sound a huge amount but still a lot more than the £5k that I have in mine.

WaitingInAzkaban Sun 12-Mar-17 11:51:55

Ah maybe I'm wrong.
I didn't mean to cause any offence, but it's not exactly joyous to be out working a lot to provide either. I'd want back what I've paid in and then some to accommodate the likely increased price in the house

EllieEllaBella Sun 12-Mar-17 11:58:47

I need to get legal advice really. I'm delaying the inevitable. When I present H with my proposal it's going to seem so cold and calculated but I have to have a plan otherwise I'm going to spend the rest of my life with this constant knot of anxiety in my stomach.

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