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Advice needed financial settlement-divorce

(4 Posts)
Confusedmummy2017 Sun 29-Oct-17 17:15:37

Hi,
I really hope someone replies as i desperately need to sort this out!

So form e under way voluntarily, ex earns £56000 i earn £20000, i work part time. Have 3 kids (1 together, 1 of mine has a disability, can't increase hours at work due to care of kids)

He has savings not sure of the actual amount yet. His pension worth £47000, mine worth £20000.

I have debts total £16000, due to him being financially abusive and me ending up using credit in my name only throughout the marriage, on pertol, food, christmas, birthdays, car maintenance, etc.

He has said a 60/40 split of equity in house with nothing else 60 to me, equity in house around £110000.

My proposed proposal to him that i would love some views on;

1, 70/30 split in my favour, owing him £33000, when our son leaves fulltime education.

2, child maintenance would be around £300 on his salary, but having worked out my income and outgoings my shortfall is a total £450. I was going to ask for a total of £450 child maintenance/spousal maintenance per month for a duration of the next 7 years until our son reaches 13 so i could then increase my working hours. Then the spousal maintenance would stop and just become child maintenance.

3, I will not ask for any of his savings or pension.

4, He has a decent car he brought new a few years ago and i have an old zafira which has done 14000 miles so wont last much longer.

We have already agreed i will remain in the house and take over the mortgage which i have in principle already, i have also requested to take more out on the mortgage of £15000 to pay off the debt and am uncertain if i should request a greater percentage of the equity to cover this?

I would really appreciate any views negative or positive to help me with this. I will have to self represent in court should it come to this as i cannot afford a solicitor, his parents have already offered to pay however many of thousands he will need for court!

Thanks

babybarrister Sun 29-Oct-17 17:47:40

Message withdrawn at poster's request.

Confusedmummy2017 Sun 29-Oct-17 23:06:11

Thank you for your reply.

House prices have risen so much that unless I was given 100% of the equity I wouldn't get a mortgage big enough to cover the remaining mortgage on house prices unless I was to move away to a cheaper town for eg about 20 miles and move all 3 kids schools. We only have a terraced 3 bed town house so not like a huge house that can be downsized or anything.

Mortgage in principle over all the years until I retire will be 500 a month.

Do you know if he got a percentage when youngest is 18 is that usually based on value if property now or at the time the money is given? Just as I've had conflicting info on this but if he wasn't paying towards the mortgage between now and then I think it should be based on value now?

Thank you very much

SkyBlue17 Mon 30-Oct-17 16:34:22

Value of property when the child is 18 usually - also he'd be paying maintenance so that is in a sense going towarsd the mortgage and probably because he is not taken off the mortgage (unless you can take it on?) he is prevented from buying another place and building up equity.

He might accept instead a "clean break", no spousal mainteance at all but 450 a month child maintenance because that means you cannot come after him later for more money and that might persuade him to accept the 70/30 split as long as you can prove you are 100% sure you can get him off the mortgage in say 2 months.

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