Hi all, I'm looking to separate from my partner and I'm trying to get a handle on my finances to do this. We jointly own our house, although I wouldn't be able to afford it if we part. I'm trying to research what I can do, and I figure that the only thing I can do is to move out, rent, and apply for universal credit so my partner can buy me out.
I accept that this is probably the best route, although I'm looking at sole propertier/guarantor mortgage to see if I do actually have a slim chance of staying in my current home. I doubt this is the case but I digress.
Anyway, if I rent, I'm aware the Universal Credit will only pay you for 6 months until you get the payment from your partner for your half of the house. I would love to put this down for a house in the same area, but because of the lack of houses available within my area, house prices and my budget it will be impossible to find a place.
Does anyway have experience of the circumstances that Universal Credit will accept if the house doesn't sell with 6 months? Or is there a way to invest the money?
I have no business ideas but I want to be able to ensure that I can at least do something with the money so it's not all wasted (I'm sorry if that sounds greedy, but I've worked really hard to even own a home., and it was always my dream to have one.) I would be happy getting a 2 bedroom flat but even those are sparse in my area.
I believe my relationship is beyond saving and I expect that my partner will drag their feet with regards to finances so I don't expect much on that front. We'd go 50/50 on childcare too so there wouldn't be maintenance income to speak of.
Can any one share what they did? I'm struggling to think as it's stressful enough so any help would be amazing.