Need Some Advice

[dadneedhelp]

Hi Everyone,

My wife of 9 years told me she had fallen in love with someone else and was leaving me to live with him.
I stayed in the marital home with our two young children whilst she moved out.
The relationship she left me for is now no longer and she is staying with her parents whilst I'm still in the marital home.
She is not in a position financially to support running the house or children, so I therefore am staying here and paying all bills and mortgage, whilst she has kept the family car.
Naturally I want to stay in the house as it wasn't me that wanted to leave, and it wasn't me that had an affair.
The equity in the house might be £15k, plus some pensions that aren't huge, apart from that no other assets.
Would it be best to sell the house and have a split down the middle and we both go our separate ways, would I be liable to support her get her own place and for how long?
Any advice on this would be greatly appreciated.
Thanks

[MarkR]

(01-24-2017, 01:39 PM)dadneedhelp Wrote: Hi Everyone,

My wife of 9 years told me she had fallen in love with someone else and was leaving me to live with him.
I stayed in the marital home with our two young children whilst she moved out.
The relationship she left me for is now no longer and she is staying with her parents whilst I'm still in the marital home.
She is not in a position financially to support running the house or children, so I therefore am staying here and paying all bills and mortgage, whilst she has kept the family car.
Naturally I want to stay in the house as it wasn't me that wanted to leave, and it wasn't me that had an affair.
The equity in the house might be £15k, plus some pensions that aren't huge, apart from that no other assets.
Would it be best to sell the house and have a split down the middle and we both go our separate ways, would I be liable to support her get her own place and for how long?
Any advice on this would be greatly appreciated.
Thanks

From the date you official separate, you need to have your own finances. However, you both need to sort out any commitments in both names.

As the children are living with you, you need to ensure the Child Benefit is paid to you, and also claim Working/Child Tax Credits as a single person, with the children.

You ex should pay child support, what will depend on her income, and how much staying contact she has.

The car and pension can be sorted later on, as part of financial settlement.

While there might be 15k equity in the house, its the current position we need to work out, to advise you best.  To work out all options, we need to know

1, House Purchase Price
2, Was there any deposit, if so what %.
3, How many years was the mortgage agreement over?
4, How many years into the agreement are you now?
5, Do you know the approximate house value and also the settlement price on the mortgage?