Divorcing when you have a house and children

[Thatgirlcat]

Hi, I was just wondering if anyone has experienced divorcing their spouse when they have a mortgage and children?

My husband and I have just bought our first home using a government equity loan scheme (20%). I knew it was the wrong thing to do, but I was trying to make a go of things for the sake of our 2 young children. I work full time and am a nursing student, but he makes double my salary. I want to divorce, but the house situation is holding me back. Is there a way I can keep the marital home if we divorce?

Thanks in advance, any tips will be kindly appreciated!

Hi thatcatgirl, sorry that I can’t offer any advice but I’m in a similar position. I am a nurse and have 2 children aged 8&6. Recently moved into a bigger house (stupidly) thinking extra space may help our marriage but it’s still awful and I want out. Hope someone has some advice for you x

I earn less than my STXH and I found a mortgage company that will use all of my income, benefits, salary and maintenance when calculating the amount I can borrow and I can actually afford to buy him out which is amazing, might be worth speaking to a broker

Thank you, I looked into this too. If I get financial help through tax credit etc I think I could potentially do that. I think I just need to set myself up with some savings and speak to solicitors.

Depends on both your earnings and assets

Can you buy him out ?
Can you raise a mortgage
Can you afford the bills ?

If the answer to those are yes then you’ll probably be able to keep the house

If the answer is no then you’ll need to understand how you propose to fund it. Ie are you expecting him to contribute? To keep his name in the mortgage? And if so for how long ? Whether he would depends on his earnings , length of marriage, ages of kids etc

You need to discuss with a solicitor