Separating and house split

[yummumto3girls]

Hi everyone,
I have decided that I want to split with DH,on the cards for a long time. I have in the past been a SAHP but returned to full time work three years ago and now earn more than him. 3 DC’s. I appreciate I need legal advice, however we have sold our house and this has forced my decision that I don’t want to continue with him. I want the kids to be with me and he is happy with that so any ideas what % courts etc split the equity on the house? I need to have a rough idea what price range/mortgage I need to consider??

There are no hard and fast rule when it comes to equity split it depends on a number of factors. Both of you will need a property where you can house the children.
Work our how much you can get on a mortgage and how much houses are in your area to see what deposit you'll need from the equity available, if he agrees then happy days and if not you'll need legal advice.

You really need to see a solicitor and so does he.

There is no set formula it all depends on your own circumstances and how you intend to split child care. People can share their own experience but the devil is in the detail. The marital assets won’t just be in the house, you need to think about pensions and savings too not forgetting debt. Don’t to be too quick to take what he is willing to offer, he might be neglecting to mention a substantial pension. They can be worth a lot, often more than a house, even a London house.

The settlement will be primarily based on your needs, his needs and those of the children. It will need to be signed off by a judge who will expect it to be fair.

Thanks for your responses. I know I will need legal advice but just wanted a rough idea. I have been working on roughly 70% of the equity left over after debts etc paid off but this does not take in to account pensions.

The issue for you is that you are the higher earner. They don’t usually get the lions share of equity and assets. Most would be glad to get 50%.

It really depends on your actuals not what somebody else got. But it would be very odd for a higher earner to get 70%. Unless there was some agreement in place or you had 100% childcare.