divorce / separaion and the family home

[ratbunny]

Our house is currently up for sale. i thought I wanted to move out, but have seen houses rund here and am not so sure now.

If I wanted to stay in the home, what might happen?

Currently, we have a mortgage for 99k, value is 144k. It is due for remortgage in Octiber, and I'm not sure what might happen there - my parents might lend me money to be able to afford a mortgage appropriate to my income (12k).

What might happen regarding xhs rights to the house (we are co-owners).

He has agreed to pay £550 maintenance (spousal as well as child, we were married 14 yrs), so that would pretty much cover the mortgage.

any advice?

So your equity is about £45K. Could you afford to take over the whole mortgage? OR could you afford (even betteR) to take over teh whole mortgage and let him have a lump sum?

Does he have valuable pensions that you could let him keep in exchange for the house? or savings? or shares etc?

How old are your DC? If young, you MIGHT be able to reach agreement that he has a charge on the house (percentage) which means it would be payable when a certain trigger occurs - including youngest child reaching 18 or leaving full time education / you remarrying / you going bankrupt etc

It IS possible, but youy need to do your sums and I'd advise you to got REsolution website and find a lawyer on there, msot will give free 30 min interview (but you may be charged for time taken to write to you after!) or do legal aid.

HTH