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Staying in the family home

(6 Posts)
HLaw1 Fri 27-Dec-19 23:23:53

After a 30 year relationship and a 24 year marriage my husband has left me for a 32 year old. We are going through the divorce process and he is now asking for the family home to be sold. Although our children are 20 and 23, I do not want to sell the house on top of everything else. Renting in London would be financially impossible for them and heaven knows where I would live? His pension is our biggest asset, but he is unwilling to negotiate around this. The children and I are willing to try and raise a mortgage to buy him out. Has anyone done anything similar or offer me any advice? Thanks

OP’s posts: |
Northernsoullover Fri 27-Dec-19 23:27:04

Its not up to him really about the pension I believe. You need a solicitor. You might be awarded a larger share of property and he keeps his pension. I'm just a layman though so you need legal advice.

Otter71 Sat 28-Dec-19 20:08:56

All the assets need to be declared. Unless the pension relates solely to payments prior to marriage, it is a marital asset and he can't change that. Then you can negotiate a split based on all assets. A solicitor will need a valuation of the pension and use formulae to assess that against the house value. Hopefully that will give you enough to buy out or buy a smaller place or one further out of London

ColaFreezePop Sat 28-Dec-19 20:11:47

See a solicitor and ask about it having to go to Court from the beginning due to his stance.

Also please don't accept property over pension especially if it is a final salary pension - you need something to live on when you are in your 80s and women tend to outlive men.

Weenurse Sun 29-Dec-19 22:54:27

Agree, legal advice required on possible asset split.
Do all of you work?
Get estate agent to give you a quote on the home. See how much equity there is in the house.
Ask the bank if you could get a mortgage between you and DC and for how much.
Then do the sums based on lawyers advice about asset split.
Good luck

Scorpioash Mon 30-Dec-19 00:53:26

Me and my wife are divorcing and she also wanted the home sold so me and my son raised a mortgage and bought her out. Best thing I ever done because like you I didn't know where I would be able to afford to live.

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