Knowledge is power - can you help?

[prettygreenteacup]

My ex finally moved out a year ago after a very unhappy and traumatic few years due to his serial cheating, a year of secret gambling and wracking up debt of 30k. I finally made the choice after trying for 4 years to save the marriage to end it and we are getting divorced. I am so much happier and our two children are settled into our 50/50 routine really well.

We own the house I'm living in and he is renting, currently paying half the mortgage but I'm hoping to take it all on myself soon. He also pays our childcare bill each month which is around £400.

Currently we are amicable and plan to go down the no fault divorce route in April. The house is obviously a big part of things to sort out, but I just feel a little uninformed and selfishly, whilst I don't want to screw him over, I do want to know what is fairly mine/what he should give for the kids in our divorce. He earns double what I earn, but I still pay half of everything for the kids and have them half the time. I know property is generally split in half. Is there anything I should know? He earns 60k and I earn 23k. I pay all other bills for my house bar half the mortgage but as I say, I'm planning to pay for this soon too. He's just then paying for the childminder.

Any general advice or signposting on where I can get a bit clued up on things??

You need legal advice - have a look online for solicitors in your area as the majority of them will give you a free consultation (in my experience, half an hour or so) to give you an idea of where you stand. For example you say you will be hoping to take on the full mortgage payments but earn considerably less than your husband - would your salary be enough to obtain the mortgage you need? X

Your incomes are £60k and £23k respectively and with shared care there is no child maintenance to pay and you both have the same housing needs although his mortgage capacity is probably a bit better than yours.

Net he takes home around £43.5k whereas you take home £19.3k. However, you'll also be eligible for around £5k in universal credit so your actual income is £24.3k. Also, is your job full time? If not then your income may need to be imputed (i.e. work out what your earning capacity is rather than what you do earn) which might reduce the gap further.

That info can then be used to work out what your respective mortgage capacities are. The law would normally use wide discretion to work out whether and how you can both own 3 bedroom houses. I would suspect something around a 60/40 split in your favour on the house would be appropriate although the asset split would be 50/50 by him keeping more of any pensions.

So I currently work 4 days a week. My FT salary is around 27k but pro rata I'm on 23k. I didn't think I'd be eligible for any universal credit? I assumed I earn too much...?

@prettygreenteacup

So I currently work 4 days a week. My FT salary is around 27k but pro rata I'm on 23k. I didn't think I'd be eligible for any universal credit? I assumed I earn too much...?

Sorry, the above figure included child benefit. For universal credit, per month someone who does not work at all with two children is entitled to:

Single Person's Universal Credit: £324.84
Children's Universal Credit: £237.08 x 2

Total Universal Credit = £799

For a year, that is £9,588

Whilst universal credit normally reduces by 55 pence for every pound you earn as a parent there are some allowances. In your situation, if you do not get help with your housing costs then you have a monthly work allowance of £557. That means you can earn £6,684 before universal credit starts to be taken away.

My understanding is that the £6,684 is taken from your net and not gross earnings which means the calculation is as follows:

(Net Income - Allowance) * 55%

(19,300 - 6,684) * 55% = £6,938.80

Your entitlement to UC will be £9,588 - £6,938.80, which is £2,649.20 a year. I think it may even be a little more than that though so definitely worth checking out.