Need divorce advice

[BigDave]

Would appreciate some guidance on my imminent divorce. Details as follows -

• Married 5 years
• Owned house jointly for 1.5 years, worth the same as when purchased, although we both put in 50k each.
• One DC aged 3
• I am the main earner and pay the mortgage and the majority of the bills.
• Wife works part time.
• My salary is around £60k

Think we should be ok to go to mediation, but aside from the care of my daughter (not going to shy away from maintenance), what should I be expecting from the house sale and the equity division? I would estimate that my ex will look after our child.

Any rough calculations on maintenance would be good to know too.

Please don't tell me that she could end up with the house! (Mortgage is v. high and she'd need more than 2 thirds of my net salary to pay it as well as bills).

Thanks!

probably looking at selling the house and splitting proceeds 60/40 to wife or even 70/30. (was there something to say that you each get your £50k back if anything happens?) both of you need to rehouse yourselves and obviously she would be looking at more with having care of child. although your argument could be she could potentially work full time. child maintenance would be 15% of your wage.

best way to work it out is write down equity, savings, other assets and then deduct any matrimonial liabilities (ie whatever has been incurred on credit cards because of holidays, house repairs etc) and what is left divide by 60/40 then you would be looking at a fair settlement in the eye of the court. alternatively you could see if she would agree a 50/50 split - always worth it even if its just a starting point.

mediation is well worth a try. bear in mind you can only finalise financial matters by way of a Consent Order after divorce proceedings have been issued or should the worst come to the worst an Order from the court (again after divorce proceedings are issued) nothing else is legally binding but only reflects your intentions

Do you think that I would be liable for spousal maintenance. She earns just over £1000 and will get the maximum amount of child support from me, approx £500 a month.

Thanks,

BD

Possibly depending on your costs of running a home for your daughter too. Or you could offer more equity perhaps.

I'm not sure about spousal payments, I was SAHM when I divorced but because I'd worked in the past the court determined that I could go back to work. Therefore I didn't get any.

Update: I think that we'll agree on 60/40 in her favour on the equity, but the sticking point will be the maintenance payment. I'm happy to pay 15% but I guess that won't be enough for her as she works 2 days a week. Can I therefore, ask what is more likely - either for her to be encouraged back to work or for me to be asked to cough up more of my salary while she stays home for three days a week?

Legally, you can't shy away from child maintenance so I assume it's spousal maintenance you are thinking of? Can you sell and both rehouse yourself? Can she maintain a home for your child on her income and child maintainance? I think those issues will need to be thrashed out at mediation.

No, definitely not shying away from the child maintenance, but the question is whether the deficit will be made up of any residual from my income or whether it is more likely she would be asked to work more than the two days of the week that she currently works. She worked full time before we had our child.