Family home after divorce?

[Brs1177]

Hi all,
Looking for some info please. Long story short:
Husband and wife split and have two young children.
Wife moves out to parents’ house due to unreasonable behaviour of husband.
Child Arrangements Order still being decided but looking to settle at 50/50 custody.
Husband expecting wife to pay half of the mortgage. She wants to sell the house to release her equity. Husband appears to want to stay in the home.
Husband earns approx 60k. Wife works part time approx 20k. Wife needs to contribute to parents’ board and cannot afford this and a mortgage to house she is not resident in.
What are the possibilities here? Wife feels husband has her over a barrel. Divorce very acrimonious.
Is there a way to force the sale so that both can try to find smaller properties? Wife cannot continue to afford half of the mortgage when trying to find new accommodation/contribute to parents.
Both parties have solicitors but focus has been on child arrangements thus far.

Any thoughts welcome. Thanks very much.

She needs to divorce him and get a financial settlement. Unless there is enough money elsewhere to give the wife a fair slice of the assets, the husband will be forced to sell the house.

As I understand it there are 2 aspects – Divorce and Financial Settlement.
To know what a fair split of assets is and to reach a financial settlement divorcing parties need to know what the assets of the marriage are, and what each asset is worth.

Look at a Form E. A long document in which each party sets out their assets, income, and financial needs. You can see in it the assets that are taken into consideration upon divorce and financial settlement, for example property (the former marital home), pensions, stocks and shares etc. It also lists the documents needed that show the value of assets for example CETVs (cash equivalent transfer values of pensions - which can be requested from pension providers).

To find out what some assets are worth an independent expert can be used. Property can be valued by an expert - estate agents, pensions by CETV and / or a pension on divorce expert (PODE) report and so on. It is important to decide what needs a valuation by an independent expert and factor in the costs of these.

Pensions can be very valuable – equivalent or more than the value of the former martial home in some cases. Divorcing parties might hold different types of pensions (not like-for-like, so difficult to compare without an expert). Circumstances might be complex for example an age difference or pensions in payment. One party may have stayed at home to look after children.

@AnnaMagnani and @silentpool made some useful comment on this in this thread

www.mumsnet.com/talk/divorce_separation/4664756-what-do-i-need-to-do-about-our-pensions?reply=121093079
When splitting the assets of a marriage…
www.legislation.gov.uk/ukpga/1973/18/section/25 applies

The income, earning capacity, property, and other financial resource which each of the parties to the marriage has or is likely to have in the foreseeable future. As I understand it, first consideration is given to the welfare (while a minor) of any child of the family who has not yet attained the age of eighteen. The needs of each divorcing party are taken into account and as I understand it 50 / 50 is the starting point – so unequal shares based on circumstances and needs is possible, for example 60 / 40. Settlements are meant to be fair and reasonable in line with Section 25.

These offer a free advice session about pensions on divorce and separation www.moneyhelper.org.uk/en/family-and-care/divorce-and-separation/divorce-or-dissolution-how-we-can-help-with-your-pension
Free advice line (busy so keep trying) rightsofwomen.org.uk

Guides on divorce and financial settlement
www.advicenow.org.uk/guides/how-apply-financial-order-without-help-lawyer

Pensions on divorce
www.sharingpensions.co.uk/penaudit3.htm
www.mediateuk.co.uk/the-ultimate-guide-to-pensions-on-divorce/
www.nuffieldfoundation.org/news/new-good-practice-guide-addresses-shortfall-in-understanding-of-how-to-treat-pensions-on-divorce
Valuation of pensions – pensions on divorce expert report
www.collinspensionactuaries.co.uk no relation – useful website
www.collinspensionactuaries.co.uk/pension-data-collection/ templates for information required
Hope this is helpful. Caveat – this is not my profession.
Legal advice should be sought.
This link gives you an indication of hourly rate for solicitors
www.gov.uk/guidance/solicitors-guideline-hourly-rates
Some organisations offer free advice from solicitors and barristers rightsofwomen.org.uk/get-advice/ On their FAQs page…”Our Legal Officers and Volunteer legal advisors are all solicitors and barristers”.
Some family solicitors offer an in initial free consultation and some a fixed fee rather than hourly.
Some barristers can be directly instructed e.g., via Clerksroom Direct

Of course there is! There would have to be. Both parties will need a home to house the children. So, only if there's enough money in the joint pot, one could buy the other out of their share of the equity. If there's not enough to buy out the other, then they need to sell and split the equity and buy two cheaper houses.

On another thread recently a point was made about 50 / 50 custody and therefore the parents would be paying equal so that may have an impact on child maintenance payments.

Regarding the house, before any agreements are made it would be very important to get all the assets 'on the table'.

Does the Wife know how much the pensions are worth? Stocks and shares, and investments? Inheritances likely or due? Savings and so on? The financial information gathering stage is very important. How can a 50 / 50 agreement be made if the parties do not have a valuation of pensions which could be for example equivalent in value or more?

First stage exchange of Form Es, then questionnaires (further questions about finances), the deficiencies (follow up questions that chase up nay missing financial information and valuation of assets. For still missing information re an assets that is vital - a solicitors letter or court order can be made to get it. On another thread, a poster wrote that reluctance to share information or withhold it is where the money is.

So look at Form E to show you what assets are taken into consideration and Section 25 to show you what the criteria are for deciding on the split of assets. The length of the marriage is taken into account and on another thread a poster said this included seamless cohabitation. The courts take the priority of the welfare of any children in the family very seriously.

Yes. Wife has suspicions that husband will say that because he’s stayed in the family home, it would be disruptive for the children if he sells it. Can he do this? She can’t afford to pay half of the mortgage indefinitely or to rehouse herself without half the equity in the house.
Husband was always quite secretive about finances, telling her they never had any money but maths didn’t seem to add up. She wonders if there is money somewhere she doesn’t know about. She also doesn’t really know about pension pots etc.
Wife has been asking to swap form Es since September and submitted hers at that point. Husband has still not shared his.

He can say that. That doesn't mean the courts will accept it. The courts will want to make sure everyone has a roof over their heads.