We have been separated for a few months now and just about making it work splitting our time between the family home and our parents/friends but the situation is far from ideal and can’t continue much longer. I don’t even know where to start. I have read many of the threads here which has been helpful but can’t find anything close enough to the full picture.
We’ve been married for 7 years and have two DC who are 8 and 4. He earns £130k plus decent bonuses, usually 20% and I earn £25k working part time, 30 hours a week. We have about £100k in equity on a £300k house. My pension is about £80k and his £20k (his is relatively new, mine is long standing but have been paying in longer and I’m 5 years older)
We’re going to aim for a 50/50 split on time with the kids. He may end up dropping a day a week to accommodate that.
My first question is what usually happens with the house here? We could sell and the deposits would be enough to buy elsewhere, but I can’t afford to get a mortgage on my own and repayments would be tough. He suggested I find a way to keep the house, but I can’t think of a way to do that without tying up his half of the equity until the kids are gone and I can downsize, (or meet someone else) which is obviously a long way off.
My second question is about maintenance. With such a big income disparity but 50/50 childcare can I expect anything? CM calculator suggests £700ish depending on a couple of factors which would actually bridge the gap for me, but I understand this is advisory only? And how are things like bonuses handled?
I just want to find a fair starting point for discussion so we can move on. Any advice, guidance or help would be very appreciated!