Divorce - asset split- housing needs (starting the application)

[markotsg2]

Hello

We will be starting new no fault divorce
we have kids boy 11 and girl 8
we live in 3 bed house

my salary is 4x of my wife
and we also have BTL property
i was going to offer assets to my wife in split 60-40 in her favour and i could keep BTL and small savings for clean break

we want to agree together on assets and both want clean break.
If we agree on split, can court still reject this at the time of consent order? what happens then?

we cannot afford with net profits from house to buy 3 bed property for wife and kids, but they could have 2 bed and kids can still attend local school
I could get myself 2 bed as well

Can judge and court reject 2 bed for wife and kids, even if we agree?
I cannot afford wife staying in house and me paying both properties

Wife is eligible for Universal credit once she has no savings and shares in BTL property (after devorce) do we put estimated UC in E81 form? How do you determine if spouse M payable or not?

would you wait for consent order before seeling and buying properties or is it better to sell before and move into 2 bed properties now?

How will you split childcare? I don’t think given ages/sex of children that a two bed is suitable in anything but the very short term future.

Are you intending to sell the btl or keep it in addition to the 2 x 2 bed properties?

no child care as they both in school
but i would be paying child maintanace

According to our agreement (we both agreed)

we have a pot of approx 400k

i can get 160 and wife 240k

i can keep the BTL (and 40k)
Wife 240K

I wanted to live in BTL
Wife - we can get her 2 bed flat in nearby area so kids can remain local school and friends

Who will the children live with?

5 days with mother 2 with me

Given the ages and genders I would say your wife needs a 3 bed.

how much would a suitable 3 bed cost and how much mortgage could she raise based on her income (salary, UC and CMS). Can she increase her income?

Id say she will have a strong case to get a bigger share to enable her to afford a 3 bed. You may have to give up the savings. What about pensions?

i have 50k pension pot, and i offered 22k to her
What would happen if we find suitable 2 bed and she moves in before consent order? Court cant force us to sell 2 bed and get 3 bed?
we really want kids to remain in current schools and current friends :(

when spouse maintaince is determined, in E81 form, do you put Universal credit as proposed income? (she doesnt receive benefits now)
would they look her salary + child maint (future payment)+ future Universal credit - needs to determine if above 0 and if spouse maint. needed?

why are you forcing your kids into a single room? You can afford the 3 bed house and the other property. Just leave the equity in the current home and see if your ex can get a mortgage. Use the savings if necessary.

Anyway she needs and she will be advised to get independent legal advice which will say that she should stay in the family home until the settlement is agreed.

stop trying to manipulate the mother of your child.

thanks for reponding
we both staying in family home till settlement
even if i give 70-30 ( i saved for house, savings and btl) she would struggle to get 3 bed nearby

she can get 28k mortgage only
thanks for your help

Your children need separate bedrooms. So you need to look at how this can be facilitated.
what is the value of the BTL?

Oh and an 8 year old still needs childcare when she’s not in school.

thanks
so they need seperate rooms with morher and seperate with me 2-3 nights per week?
then we both need 3 beds

i would be happy sleeping in living room 2bed and thwy can have own room
btl net equity 120k

I’d say that if they’re at yours only 2 nights they may be ok sharing a big bedroom for a couple of years.

So is the £160 you mentioned made up of your BTL plus 40K?

blt 120
savings 40k

Presumably your salary will enable you to obtain and support a larger mortgage?

I think your children need a bedroom each if they are with your wife 5 days a week. In your home you could probably get away with 2 and have a sofa bed in the lounge.

What has a solicitor said would work at the courts where your order would be heard?

Playing games like downsizing your exs potential property sounds a risky game and like others have said. With a split of 4/10 days the "needs" are all in your exs hands seemingly especially with your additional mortgage capacity.

If the BTL is sold where would the current marital home sit in terms of requiring a mortgage from your ex and what would be left for you and your potential mortgage capacity

I think the odds are stacked towards your wife getting a higher share in order to have a 3 bed, or even to retain the marital home potentially

it’s difficult to comment without understanding the relative incomes and ability to raise a mortgage but you could see here a 70:30 or 80:20 scenario in order to provide 3 beds.

what’s the mortgage on fmh and with income, cms, uc could your wife afford to remain in the home?

I really think 3 beds is needed here and if that can be provided in anyway needs to be given serious consideration

well the adult can sleep on a pull out type bed in the living room. but the children two different sex's and nearing teen age should not share a room.

thank you

that was her thinking as well, currently kids sleep in same room but later on they will need / want their own room which is fine, but if wife wants 2 bed (as lower cost) and is happy to sleep in living room on sofa bed (own choice) court cant interfere there?

thank you

with full profit from house sale and all savings she could get £260k
for that she could get 2 bed (kids would have their own rooms) close to our kids schools (they could stay in schools) and commutable, or 3 bed far away and kids would have to change schools

I would keep BTL and no savings and can live there (2 bed)
that would be 70-30

The words "own choice" are having to do a lot of mileage here when it seems like the terms are being dictated to her about what she will be left to live with.

The details keep getting skirted around like mortgage ability and salaries and ability to raise earnings and so on. And again, submitting a consent order without legal advice is likely to have the court calling you in to explain you know what you are agreeing to so what legal advice have you both taken regards this? Because the pair of you agree, doesn't mean the courts agree as the children come above you in the list and they look for the childrens needs first

But with earnings, cms, uc, could she afford the mortgage and bills on fmh

wgat incomes are there ? What’s your mortgage raising capacity ? If you earn 4x you may also be into spousal maintenance Territory

a judge could reject the consent order, and long term, parent sleeping on sofa bed in their permanent home is not really an option, especially as there are assets available to house her and the children by receiving a higher share

have you both had independent legal advice? What does your solicitor think is a fair and realist outcome ? If you’ve not had independent advise a judge is likely to reject

If she stays in FMH i will have to pay spouse maintenance and child maint
She will not be then eligible for UC

For sure court cant kick me out and take away everything from my pot? I thought 70-30 is max split they can go?