I know Mumsnet is not a substitute for proper financial advice but hoping people can give me some points to consider in my situation. I am currently separated from my husband and as I have no intention of us getting back together I am thinking about financial situation.
I am the major earner and can manage the mortgage by myself.
Having had an initial half hour free consultation it seems like my options are:
Buy him out property and take on mortgage myself
He maintains a share of the equity which I would have to repay when youngest hits 18.
A mix of the above two options.
We currently have around 65% equity on the property so it will be expensive to buy out but My concern with option two is I would then be mid fifties and unlikely to get mortgage yet having to release £200k (potentially) from the property which not much scope to downsize as I will still have 2 children at home.
Has anyone been through this who can give an idea of issues to consider?