Hello
My wife and I split 4 years ago. I moved to what was a buy to let house we previously lived in together. We have two children aged 18 and 15.
I earn circa £43k and she earns about £25k .
My new partner has moved in with me in what was the buy to let, before that I had lodgers for over 3 years.
The main house where ex and children live is worth £630k with about £75k mortgage.
House I live in worth circa £430k and £240k mortgage
Investment property worth circa £105k and roughly £5k Mortgage
All other assets ( persons/ savings etc) roughly equally at £20k each in own names
In principle we have mutually agreed a split roughly 55% for her 45 %that would mean she can remain in what was the family home but the issue I have is that she wants to delay a Meshe order/ release of any equity until she is retirement agee so about 15 years. The children will be considerably older and probably left.
I pay child maintenance currently.
ed
Would a judge allow a mesher order to run to a 15-year length? As I understand there would also be tax to pay at 10 years as the portion of the property that would be "allocated" to myself would be in trust and subject to tax in 10 years?
I also will struggle to get a mortgage on my own salary for the house I live in, without the equity released from the family home.
Any thoughts appreciated? I a mind to stick the form E's in with what we have agreed and hope the judge says all fine but Mesher order is only for 5 years, not 15 .. but its a bit of a gamble!
Thanks