Hi,
Coming to the end of divorce proceedings but the solicitor is sorting out what the financial order should look like. I have asked for neither of our pensions to be touched even though we declared all assets. He has a ‘hefty’ pension (solicitor’s words) and mine is probably going to be equal to it when I reach his age (he is 10 years older) even though I’ve been part time for 11 years raising 2 children). I’ve been full time for a few years and have always been the higher earner.
As I have the children (one 100% of the time, and the older one half the time - older one almost 18 and had applied for university) the solicitor has said I will get a larger share of the family home (mortgage free) and has asked me to get some mortgage advice next week and present different scenarios so they can figure out what I can afford. I have been told I’ll probably get £160-£180k of the property and may be able to buy him out (it’s worth £230k - we’re in the north). I’d rather sell it tbh as it’s a big house and I want a fresh start. I’d also like to be mortgage free if I can so plan on downsizing to a 3 bed from a 4.
Will the bank I had my mortgage with give me advice for free? Based on mortgages of £30k-£60k? I really want to avoid getting a mortgage if I can though as I’m almost 50 and don’t want to have hardly any money left each month! I have a disposable income of about £1500 a month but have just bought a car (needed for work) at £230 a month.
What did everyone else do?