I’m currently going through a divorce, I’m at the point where we’re getting to the end of the financial disputes resolution process.
I know that the standard split is 50-50, and that the court needs to take account of the earning potential of both parties and the issue of disability is also highlighted.
It’s not a particularly large amount of money that we’re looking at, and it’s all tied up in the equity of the Home that I’m having to sell because I can’t afford the mortgage payments on my own.
I’m not even sure if this is an appropriate place to ask this question, because it’s incredibly private and personal, is anybody willing to share what the split was for them? Eg whether they got an 8020 split or a 7525 split? There’s no children involved but the amount of the equity that I get Will determine whether I can afford to buy a half decent Home next or whether I’m going to struggle in a really rough area.
I don’t know whether private messages exist on the forums but if they do feel free to send one if it’s easier.
Whichever spouse earns most will be hardest hit and that should take account of future capabilities. If you cannot work, or won’t be able to work in a forecastable timeframe, then chances are your spouse could end up supporting you more than the other way around.
They won’t render you homeless if you cannot support yourself. The state would first expect the other spouse to continue support.
Not sure if this is helpful or not but from what I recall my first divorce was 50:50 and I bought my then wife out of her share of the house. We had pretty similar incomes and had bought the house together. Buying her out was a stretch but this was long time ago and before the days when house prices increased to anything like today’s prices ( and before the east end of London became ‘desirable’).
Sadly I rushed into another relationship and marriage followed by a divorce. I am eternally grateful that, on the grounds that I owned the house before we married, and because she was just ‘good’ she didn’t ask for anything on that ( we remained friends for a while ).
Is there any chance of changing the mortgage to a longer term one with lower monthly payments?
He left as soon as he could after getting his name on the mortgage which was extended because I mysteriously ran out of money to pay for the adaptations to the house. Even all the extra money didn’t finish the work, so the whole upstairs is half decorated and there’s no bathroom up there just an empty room. Fortunately there is a wet room downstairs now so the house can actually be sold, but because of the way that he screwed everything up my wheelchair doesn’t actually get into the wet room. I suspect that even if I extended the mortgage length I’d still struggle to pay it, if I’m honest just looking around at what should’ve been a really good extension to fit my wheelchair breaks my heart so I want rid of it as well. His ex-wife did warn me he was a liar and thief, I thought she was just being a bitch though!
Oh, so a real nice guy then! ( AKA a total louse). I expect you have done but if not then looking at disability benefits and grants for such things as making alterations to a property might be useful?
The difficulty I’ve got is that when I move out of this house I’ll need to move into my next house on the same day, so it has to be pretty much adapted from the off. It’s going to be tricky enough getting social services to take the track hoist down from this house and install it in the next house on the same day or the next day. It’s also complicated by the fact that I’ve got a dog, temporary accommodation somewhere is really limited by that. As they moving Home isn’t stressful enough anyway!