First financial settlement proposal -thoughts please

Hello all,

I'm seeking opinions on the fairness of the proposed financial settlement in my divorce.

Context: I'm 40, working full-time with a £45k annual salary, and my 35-year-old ex-partner works part-time with a £20k annual salary. We have four children and currently live in a shared ownership home.

Her solicitors recommend a pension sharing order due to my higher pension, allowing me to retain £10k of my savings. She has a separate £9k debt, acknowledged as her responsibility. The proposal involves my relocation for a new property, using my £10k savings as a deposit. Although our shared ownership home, owned 49% by both of us, wouldn't be manageable for her alone, her relatives intend to pay off the mortgage where she will remain. Her solicitors propose no share in the property for me, despite its current asset value of around £60k, if it went onto the market and after the mortgage was paid in full. They suggest I would move out once removed from the mortgage, with continued responsibility for half of all bills until she secures Universal Credit.

I'd appreciate thoughts on the fairness of this proposal.

Note: The deposit on our property was paid from my own savings, although I don't suppose that matters.

Also, should I seek legal advice, or can I negotiate this proposal on my own? I haven't used a solicitor so far due to concerns about high fees, which might leave me with even less for a deposit, considering the high property values in my area.

Thanks in advance.

We only have part of the information needed to comment.
How much in total do you have in savings? What are your respective CETVs and types of pension? What ages are the children? How much equity is there in the property?

The priority here must be secure and stable housing for the children.

If you want to take your own legal advice on potential settlement you could consider the fixed price legal financial consultation offered via this site.

Hadenoughnow