Welcome to the DAD.Info forum: Important Information – open to read:
Our forum aims to provide support and guidance where it can, however we may not always have the answer. The forum is not moderated 24 hours a day, so If you – or someone you know – are being harmed or in immediate danger of being harmed, call the police on 999.
Alternatively, if you are in crisis, please call Samaritans on 116 123.
If you are worried about you or someone you know is at risk of harm, please click here: How we can help
Hi guys,
I've just signed up i need some opinions/ advice.
Going through the divorce process and figuring out finances.
We have 3 children 2 of which are twins.
We have a 4 bedroom detached house valued at 500k with just over 300k equity.
My earning is around 55k a year and my mortgage raising capacity is around 180-190k I've put on the form I need 340k housing needs, this is for a 3 bedroom property's in my area.
My ex wife will have 57k including universal credit etc and potentially 10k more if she worked full time. Her mortgage raising capacity is 220k and on the form she's put housing needs of 375k on the form.
She wants to stay in the family home and is trying to convince her solicitor i need a property at around 240-290k so she can keep as much of the equity as possible.
In my eyes and my solicitor we could equally split the equity and pretty much meet both our housing needs.
Where do you think this will sit?
Hi guys,
I've just signed up i need some opinions/ advice.
Going through the divorce process and figuring out finances.
We have 3 children 2 of which are twins.
We have a 4 bedroom detached house valued at 500k with just over 300k equity.
My earning is around 55k a year and my mortgage raising capacity is around 180-190k I've put on the form I need 340k housing needs, this is for a 3 bedroom property's in my area.
My ex wife will have 57k including universal credit etc and potentially 10k more if she worked full time. Her mortgage raising capacity is 220k and on the form she's put housing needs of 375k on the form.
She wants to stay in the family home and is trying to convince her solicitor i need a property at around 240-290k so she can keep as much of the equity as possible.
In my eyes and my solicitor we could equally split the equity and pretty much meet both our housing needs.
Where do you think this will sit?
if she is primary carer of kids, then that gives her distinct advantage. and Judge will likely say she has more needs than you, and will want to keep stable roof over kids heads.
You might consider mediation which will be quicker and cheaper than going through solicitors. You can find a local divorce mediator through the Family Mediation Council
I understand that but she's adamant she's keeping the house. So if we go to a mediator she will say the same.
Surly her solicitor will be giving similar advice to mine as whats reasonable in the eyes of the law? Theyre all playing to the same guidelines.
@john4688 court will expect both parties to attempt mediation before applying to court. I know a dad that did informal mediation, email negotiations directly with his ex.
The needs of the children will be given priority. She may be able to delay sale of the house until they reach 18 or leave school. There are some guides on divorce on the advicenow.org.uk website. If she's adamant then court may be your only option which will be stressful and expensive.
I understand that her needs will be greater and a priority, but like I said she's stipulated she needs 375k and she has 220k mortagage raising capacity meaning she needs say 170k to cover fees etc.
My question is when she's stipulated she needs 375k housing but wants to stay in a 500k house, how can that be justified especially when by her own admission she doesn't need that house.
Welcome to the DAD.info forum.
We don’t like to set ‘rules’, but to make sure that you and the other dads are kept safe, we have some requests. When engaging with the forum, please be aware of the following:
- The forum is not moderated 24 hours per day.
- Many of the moderators do so on a voluntary basis. Whilst they may be able to provide some guidance, advice or support, they may not be able to deal with specifics.
- We are not an emergency crisis service so if you or someone else is in immediate danger, please call emergency services.
- If you are concerned about the safety of a child, please click here to find the support you can get for them (link to new page)
- If you are in crisis, please call Samaritans on 116 123. They are open 24 hours a day, 7 days per week.
We hope you find this forum a supportive environment and thank you for joining us.