Great forum here from what I have been reading and Im hoping both 1. I could have some guidance on my and perhaps 2. it might help others too.
Married for 12 years. Separated for 2 years or so.
Three kids 5, 9 & 11. We have the kids 50/50 so no child maintenance payments had to be made. I have been giving her an additional 500 a month for the kids as a good will gesture.
Ex partner is in martial home, has a part time franchise and on UC credits. I estimate her earnings to be around 450 a month plus benefits up to maybe 800
I don't know exactly to be fair.
I take approx. 5k out of the business as a wage when I can but I have debts up to my eyeballs both personal and in the business to cover as well.
I have a rental and have been covering the whole mortgage (long story but have realised the error and reverted back to just half for now)and half bills to help out. This totals around 2.3k. I am looking at reducing this down to about 1400 a month for my share of mortgage and bills.
With cost of living and my own business needing more support I can't afford to have a rental and cover the cost of the marital house too.
She is looking for a full time job. I've served notice on my rental and had thought to move back into the marital home to save and help out. Suggesting a nesting type set up with us and the kids 50/50.
She has resisted this as she's got used to being in the marital home.
She has sought advise and has been advised apparently that:
1. If we were to either agree or I was to force a sale of the house, due to her less earnings and inability to get a mortgage she is saying she would be entitled to get more of the equity on the property ( Morgage is 295k and value approx. 775). I'm trying to be reasonable and say it should be 50/50.
Given I'm a director of a business and can't prove my earnings with a salary and decent p and L yet, I'm feeling just as unlikely to get a mortgage as she is. She is trying to get a full time job paying approx. 25k a year. So I suppose she could realistically get a 100k mortgage and put down deposit with 200ish k equity made on the sale of marital home. I'm resigning myself to renting or getting a small do it up to get back on the ladder at some point.
2. She can come after 50% of my mortgage, pension and business.
We agreed to separate around May 2020 and I started the business in November 2020.
So I suppose my questions are
Is she able to take more equity share then me from the house sale if she was to get a solicitor involved if we can't agree to 50/50?
Is my half of the mortgage and bills a fair spousal contribution and can it even be classified as such? Is there any rough guide to calculate this?
It thankfully is still amicable but I'm worried that there appears to be a discrepancy between what I've been told from colleagues and friends who have gone through a similar process vs what she has been told?
What realistic parameters would the court say is fair and reasonable and supportive for our 3 children being 50/50 with us?
Thanks for any thoughts and advice to my situation.