House equity percentage split?

(3 Posts)
RollerCola Wed 24-Jul-13 23:29:56

Thanks for your reply, just typed out a long reply then lost it aagh angry I know it's not straightforward.

We've always earned similar amounts 15-20k each although I currently earn more than him. We both have a car & a pension so would just keep those.

I'd have the children living with me but they'll stay with him a few nights a week eventually.

I can just about afford to pay for the family home by myself, & if I remortgage I can raise a lump sum to give him a share. He'll rent to start with then use his lump sum as a deposit on another house.

The problem we're having is deciding how much the lump sum should be. We're just not sure what the split should be. I'll be paying the majority of the children's expenses although he's said he'll contribute. It won't be a lot though.

He's got a free appt with a solicitor next week so maybe I'll need to do the same & then compare notes.

toosoppyforwords Wed 24-Jul-13 09:07:21

I dont think you can look at the house in isolation tbh. Are there any other assets e.g pensions? Do you both work? What are the incomes of you both? DId you sacrifice a career to look after the children?? All of these questions come into play and a whole lot more i'm sure.

Solicitors will generally try to aim for a clean break so no spousal maintenance is due and this could mean you end up with more especially if you are deemed the main career. I certainly know of people who have been awarded 60:40 and indeed 70:30 but she got more of the house and he kept his pension untouched.

If you sell the house and split the equity can you both afford new houses and mortages on your own? If not, then it could be best not to sell until the children are older and he retains a share in the house - although this is not ideal.

A solicitor will look at the needs of the children first and providing housing for them. However, it wont be the case that one party walks away with most of everything leaving the other with virtually nothing.
My advice would be for both of you to seek legal advice, but try to keep talking at the same time and be pragmatic (e.g there is no point arguing over say £5k difference in opinions if it takes you 6 months and £8k in fees to get this!)

I dont think anyone on here will be able to advise what you will get or what is 'fair' based on the limited information provided.

RollerCola Wed 24-Jul-13 08:05:16

Can anyone help me on the percentage split usually advised when a couple separate & one has main child caring duties but the other has the children 2-3 days per week?

We originally thought 50/50 but it's been pointed out that the split should be more in the favour of the main child carer (me) Dh doesn't think it's fair that he'd get a smaller percentage but understands that a solicitor may advise it. We're trying to avoid solicitors as much as poss but unless we can agree on the house split we may have to go.

Does anyone know what would be advised in these circumstance? We have 2 children aged 11 & 6 and approx 90-100k equity to split.

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