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Settlement offer?

(11 Posts)
kippersandkittens Fri 22-Sep-17 14:35:23

I'm due to go the court for the 2nd financial hearing for my divorce within the next few months. Stbxh has made me an offer in the hope that we don't have to go to court but I don't know if it's right for me to accept.

I work part time and we have 2 dcs. They would be with me but he would have them every other weekend. The offer would be for us to sell the family home, I would keep £200k of the equity, he would take £25k. He has a debt of 20k, leaving nothing else in the pot. Sounds generous but that wouldn't be enough for me to buy a house and I can't get a mortgage on my wage. I don't want to rent. If I refused this offer, is the judge likely to award that I stay in the family home as that is the only choice?

MyKingdomForBrie Fri 22-Sep-17 14:38:20

Wouldn't be enough to get a new house?! I can only assume you're in London. That's very generous I'd say, you could get a lovely house round our way for 200k. Not sure what you want your ex to offer instead - can he pay mortgage and rent himself a place?

MyKingdomForBrie Fri 22-Sep-17 14:39:04

I'd say if you have a reasonable counter offer than make it to him.

kippersandkittens Fri 22-Sep-17 14:45:21

Around here a reasonable 3 bed is around £250k and I have no means of raising the other £50k

kippersandkittens Fri 22-Sep-17 14:46:15

That's the thing, he couldn't afford to rent and pay mortgage, am I left with just renting either way?

itwasadarkandstormy Fri 22-Sep-17 15:16:01

Could you increase your hours? I think he is being generous actually

kippersandkittens Fri 22-Sep-17 15:19:25

Ah see this is useful, thank you. Is there anything else I could do? I would rather accept this offer than go to court.

motheroreily Fri 22-Sep-17 17:11:19

It seems generous to me. Could you keep the house until your children are older then sell and split the equity?

Userwhocouldntthinkofagoodname Fri 22-Sep-17 17:48:25

Have you actually looked into getting a 50k mortgage, which would only be 20% of the value of a £250k house value. A part time job, maybe a few extra hours, tax credits, loan from family, maintenance etc could easily cover that.

It seems a very very generous offer. I would grab it.

NotSureIfiAmWell Tue 26-Sep-17 20:56:44

Have you both got a pension?

DayToDayGlobalShit Wed 27-Sep-17 01:42:06

Would he be paying you spousal maintenance too? If he walked away with 25k then paid the debt from that he would be left with 5k . He also needs to provide a roof for the children and himself plus pay you child maintenace so i think he has made you a very generous offer

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