Seperation

Hi, Im married and find myself and wife on the verge of seperation aftr three years. we recently bought a house together which she has now moved out of. We have no children together,although she has 2 and I have 1 from previous marriages.What will happen to the house, how is it split and can one partner "buy out the other",do we both have to pay half each to the mortgage in the meantime?

Any advice would be much appreciated, Thankyou.

Jet

both of you should keep on paying the mortgage, if not, then both of your credit ratings are compromised - resulting, in this economic climate, of a very difficult position to be in, when you want to purchase another set of properties

dd

Keep paying the mortgage.

It's possible for either partner to take over the mortgage and home whilst giving the other partner compensation - provided one partner can afford this.

the first consideration in all this is the children and their housing needs, then the needs of the adults concerned.

Jetpilot. How long was your relationship prior to getting married.

The three years that you have indicated is on the edge of being a "short marriage". In terms of the split of the house as an asset, you would expect to take from it in broadly the ratio that you put in. Were this to be a 3 year marriage following a 10 year relationship, that would no longer hold true and the starting point for the split in the asset would be rather more 50:50.

In the interim, as others have said, keep paying the mortgage - even on an interest-only basis if needs must.