How can I buy a house?

[planAplanB]

My salary: £19k
His salary: £70k

What will happen when we sell our joint house and try to purchase a new place each? Will I get a larger chunk of the assets to have a bigger deposit? Will I be made to increase my income? Currently working full time but over qualified so could potentially earn more.

Would I be able to receive some of his hefty salary to help me get back on my feet?

Do you have children? If so have you used the child maintenance calculator to workout how much you'd get each month?

You'd probs be able to get more than 50% of the equity

Yes have kids but we are aiming for 50:50 for the children

The best place to start is to go and see a couple of mortgage advisors and find out how much you can borrow. When you've got this information you'll be better placed to negotiate.

I'd go for 60:40 custody and get child maintenance tbh

Youll be able to claim UC. The only calculaters are a bit crap but if you contact citizens advice bureau they will do a calculation for you so you can see how much you'd be entitled to. As a single parent with dependants you can earn
Upto 50,000 per year and still claim some UC.

If you're working full time, so at least 35hrs then minimum wage for someone over 21 yrs old would be just under £21,000.

If you are able to increase your salary then you should do that, you may get a higher proportion of the equity from the sale of the house but 50/50 is the starting point so it's not guaranteed.

How are you full time on £19k? Must be term time only? Or not full time.

There’s no requirement for you to be able to buy, just to be adequately housed. So depends on the equity. It’s not a given both will get a house purchase out of a divorce.

If it’s 50/50 custody you won’t get anything from his salary. But you might get more equity in lieu of pension etc. Basically you need legal advice as it’s very individual.

Whilst £70k is a good salary, it's not hefty enough for spousal maintenance. 50/50 is the starting point, you will be expected to maximize your income.

You won't get spousal maintenance, he doesn't earn enough. Are you married? If you are pensions and equity and any other debts or assets go in the pot if you don't its just what you own you keep and marital home split as per ownership if in defined shares.

TA work 5 days a week

How old are the kids, and how many do you have? I assume that a court’s priority would be that you are both able to adequately house the children. If you sold the house could you each afford a 2 or 3 bed flat, for instance?

If you are aiming for 50/50 you won’t get maintenance (unless he’s willing) so you may need a full time job with a full time wage to be honest. Speak to a solicitor asap

50 50 split - when you are a TA and have all the holidays - will that really happen ?

Are you married ? The split will be on your favour likely as your mortgage potential is less. However ultimately if that's the only marital asset then there's not a lot else to go after. You are unlikely to get spousal maintenance these days, they'll just adjust the split of the assets.
Is there any way you can increase hours or find a better paying job ? Especially if you are 50 50, then you could work in school holidays to maximise income ?

Have you had legal advice? No one can tell you because they need all the financial information and even then it depends on the paths taken to get to a financial settlement.

If you can try to negotiate with your ex rather than court as it's expensive.

70k is not a hefty salary
highly unlikely to get spousal
you may get higher share of assets but with 50 50 your housing needs are the same
you also won’t get child maintenance

courts don’t deem
you as needing to buy - so on That salary you’ll be renting and on uc top ups unless you have large assets to split

Even at 50/50 the child maintenance calculator will say he has to pay something because he earns so much. Double check.