Splitting up. Can I have advice on assets when married please?

[StartingAgain101]

DH and I are separating. He is going to move out at some point.

We have a house, he has a decent pension.

House is worth 160k, mortgage is 55k. I had an inheritance and savings and paid 75 k deposit and I've spent about 15k on home improvements. DH pays 're mortgage, which is low at £291 a month.

I work part time and have a disability so cannot increase my earnings. DH has a good job with decent money.

I'll be blunt, I want the house. I have put 90k cash into it in the last 4 years. He has paid 5k off the balance. We have always had equal spending money, I've always been able to save, he has no savings and nothing to show for it (we don't have joint accounts).

I've said if I can have the house I wont touch his pension. He doesn't seem keen on the idea and thinks he is entitled to 50%, which he isn't because he has more earning capacity and I will be the primary carer (2 DCs) and limited earning capacity. I can't won't be able to borrow enough to by him out. I've also but spent 7k getting the house finished.

What are the chances of this being realistic do you think?

You can claim benefits as long as you are living seperatly under the same roof.

STBEXH doesn't appear to be getting legal advice though

He's making a mistake. Even in an amicable settlement it is best that solicitors draft the Consent Order and given the opportunity to comment on whether or not it is fair to both parties. Judges are entitled to reject Consent Orders if they think they are unfair to either of the parties.

So is that a pension fund of £200,000 i.e. that might pay him £10k a year after tax once he is about 67. As some pension funds crash and are worth little - Equitable life etc I would get as much as you can of the house. However only a solicitor can assess your specific situation to help you decide. Also you might work full time for the next 30 years so could build up a pension anyway. I am not saying pensions are not important but they are not so useful for housing husband or wife.

He may not want to give you all the equity if you cannot get him taken off the mortgage and if your income is low that may not be possible but do look into it all.

My Consent Order was drafted in agreement with XH and our solicitors...... it was STILL rejected on first attempt as the Judge wanted a better understanding of the financial split

Judge wanted a better understanding of the financial split

Sounds like Solicitors are at fault here. If they are any good and have experience of the Family Courts they should be aware of the level of detail that has to be provided. Judge's can reject any information they think is necessary to be sure that drafted Consent Order is fair all round.

The Court Order went through on the next attempt with nothing changed. The Judge just wanted the Net Order laid out clearer

If they are any good and have experience of the Family Courts they should be aware of the level of detail that has to be provided.

Different judges have different requirements. If you have any knowledge of the D81 you will be aware how little space there is to provide information.

Different judges have different requirements

And different opinions it would seem too

If you have any knowledge of the D81 you will be aware how little space there is to provide information

That's why the form advises people to use additional sheets if necessary.

Going by your latest update you have joint assets of just over £300k (house equity £100k and pension £200k). On a 50/50 split this would give you each £150k so you keeping the house looks about right but slightly in your favour.

Some things to consider:
If the pension is defined contribution then CETV likely to be in line with current transfer value but a defined benefit pension needs a separate valuation and may be worth more.
As pp pointed out pension funds don't tend to be considered £ for £ due to uncertainty of benefits and time value of money.
The house value may be higher or lower than what you paid into it.

In any case, as a couple you are £55k short of cash to settle the mortgage and you currently have insufficient income individually to finance it.

Suggest as well as seeing a solicitor you go and get some mortgage advice so that you are aware of your options before agreeing to something you cannot afford.