The UK's largest and most visited divorce site.
Modern, convenient and affordable services.

We've helped over 1 million people since 2007.

 
Click this button for details of our
email, phone nbr and free consultations.
 

House Split

  • Kevin121
  • Kevin121's Avatar Posted by
  • New Member
  • New Member
More
12 Mar 25 #525486 by Kevin121
Topic started by Kevin121
I have been married for 14 years. My wife and I split 1 year ago with me moving out of the family home and staying at relatives.
She works full time and earns £20,400 per year.
I work full time and earned £30,000 in 2024. I own my co-own a buisness (owned prior to marriage) with 4 other partners, this was a significant reduction on my 2023 wages. The £30k will be submitted on my own self assesment form in April.
In addition to this I own an ecommerce business which I have owned since 2020, I have never took any profits from this business but with stock and cash it's value is around £65k. The company showed to make a profit last year of £20k but this money was reinvested into the business.
We both have pensions with hers being around £25k and mine being £12k.
We have 2 children, aged 13 and 10. Own a 3 bed property worth £450k which has an outstanding mortgage of £140k, we have a girl and a boy so need 3 bed, the cheapest 3 beds in our area cost around £400k. I currently look after my children at family home when my wife works her 12 hours shifts. This averages out at 1 overnight stay per week and 2 days where I take kids to school, work and then do school pick up and then look after them until 8 in the evening. This time looking after the kids isnt taken into account by the CMS.
When negotiating with my wife over a divorce settlement she wants to keep the family home and have me contribute towards the mortgage. This doesn't allow me to move on with my life as most of my money is tied into the property we own together, I have offered her to keep the property for another 5 years without me taking my equity but she wants to push for me to contribute and stay on the mortgage. If i refuse this what would the likely outcome in court?

  • WYSPECIAL
  • WYSPECIAL's Avatar
  • Moderator
  • Moderator
More
12 Mar 25 #525489 by WYSPECIAL
Reply from WYSPECIAL
What she is looking for is spousal maintenance and you won’t have to pay that if your income is £30k per annum.

If she is working full time £20400pa will be below minimum wage.

Moderators: wikivorce teamrubytuesdaydukeyhadenoughnowTetsSheziLinda SheridanForsetiMitchumWhiteRoseLostboy67WYSPECIALBubblegum11

Do you need help sorting out a fair financial settlement?

Our consultant service offers expert advice and support to help you reach agreement on a fair financial settlement quickly, and for less than a quarter of the cost of using a traditional high street solicitor.

 

We can help you to get a fair financial settlement.

Negotiate a fair deal from £299

Helping you negotiate a fair financial settlement with your spouse (or their solicitor) without going to court.


Financial Mediation from £399

Financial mediation is a convenient and inexpensive way to agree on a fair financial settlement.


Consent Orders from £950

This legally binding agreement defines how assets (e.g. properties and pensions) are to be divided.


Court Support from £299

Support for people who have to go to court to get a fair divorce financial settlement without a solicitor.