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House Sale
#1
I have been separated from my wife for over a year I am still paying all the bills etc and we are due to go into mediation in next two weeks
We have a four bed house with equity of around 370k. We have twin boys of 7. I am currently living at my mums house some days of a week and at my new girlfriends other days of week. She has three young children in a 3 bedroom house and the boys stay with me at her house every other weekend.
My ex wife has told me that she has been told that the house will not be sold. In your experiences is the house likely to be sold as i need money from the sale to buy my own house for the boys to come to and view as their own

Thank you
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#2
if the house is a 50/50 house dont quote me on this but i do think you can get a court order which forces her to sell and you both get an equal cut
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#3
(02-20-2017, 12:24 AM)cornishguy91 Wrote: if the house is a 50/50 house dont quote me on this but i do think you can get a court order which forces her to sell and you both get an equal cut

Courts will never make a sale order, if it will make someone who a parent gets Child Benefit for homeless, unless its by agreement.

This means in some case, its the summer after 19th birthday, if they stay in education at 16.

(02-19-2017, 09:13 PM)Iain Wrote: I have been separated from my wife for over a year I am still paying all the bills etc and we are due to go into mediation in next two weeks
We have a four bed house with equity of around 370k. We have twin boys of 7. I am currently living at my mums house some days of a week and at my new girlfriends other days of week. She has three young children in a 3 bedroom house and the boys stay with me at her house every other weekend.
My ex wife has told me that she has been told that the house will not be sold. In your experiences is the house likely to be sold as i need money from the sale to buy my own house for the boys to come to and view as their own

Thank you



First of all, stop paying the bills for the house, they are not yours.

From date of separation, you ex should claim everything she can for herself and the children. Your Child Support payment is fully inclusive and not considered as income, http://www.gov.uk/calculate-your-child-maintenance.

Your only liability is Mortgage (inform the council you moved out, and she gets a 25% reduction on Council Tax.

Try to follow this example, as in law it was Family Money what paid for the house so far

House price, 100,000
Deposit, 10,000 would mean you have paid 5% each.

Separation 10 years into a 20 year mortgage, would mean a further 45% has been paid, so 22.5% each plus the 5 from deposit.

Estimate the house value, and take off toady's settlement for the mortgage, including any early repayment fees. This gives you an idea on profit, but there will be sale and some legal costs.

Options,
a, buy out. Either of you get a mortgage to pay off the existing one at least, if you can raise some more cash.
The other person is due their percentage of the expected profit based on today's value.
If the funds can not be raise to pay this, a charge on the house is normal, so they get paid on sale.

b, you could do a sell and rent back. They normally pay 65-70%, but do the deal in under 3 weeks.

c, If you can not afford to pay your own rent, the mortgage and Child Support, you can short the Child Support. CMS will tell you how much by, as it depends on your income, your rent costs etc, but in law your supporting the child by providing the house.
As your ex should get the child support cash, in law, she is considered as paying that amount, when working out who gets what.

Note that following Welfare Benefit reforms, what put Resident Parents into a better position, she is no longer due any more from division of assets, just because she has the child.
Posts made by me are my opinion and any factual information should be checked out. If you do not have a Solicitor, often your local CAB can get you some initial advice.
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