Soooo, I separated from my Husband a bit over 3 years ago. We had bought and lived in our Family home since 2009. Initially, he moved out when I asked him to, but then told me he wouldn’t pay the mortgage any longer unless he could live there. I wasn’t able to pay the mortgage, so took advice from CAB and moved in to a rented house with my children with working tax credit, which then, turned to Universal Credit, which I rely on, though I do work 30hrs a week as a healthcare assistant. I have been trying to progress the divorce, but he refuses unless we sort the finances. I have said I will not seek his pension, but want a 50/50 split on house equity and I think that should be around £20-26k. That isn’t going to be enough for me to try to get a mortgage on my own, but will presumably mean that I am ineligible for the UC benefits. Is there any way around this? It would get swallowed up fairly rapidly on just living, so I won’t have anything to move forward with and create stability for me and the children when I am in a position to be able to, then will have nothing left and need to claim benefits again. Tbh, I am not sure he will be able to remortgage on his own, so the house is likely to be sold. I have considered a Mesher order, but could I be found at fault with UC if I try and slow the sale of the house, so assets? I keep going round and round in circles, getting nowhere. Any advice appreciated. Thank you.
I have just spoken to the hmrc today about this. I work 30+ hours a week but i get working and child tax credits. The sale of my house is due to go through in the next 10 days and I am also due to receive my postgraduate loan/grant soon. The lady i spoke to said they only take savings into account if you get over £300 in interest from them in a year (i kept a transcript of this conversation just in case she was wrong). I’m due over £50k, although i owe most of that to my mum as she lent me the deposit for the house i bought last year i will have a bit in the bank. The only thing it may impact on is housing benefit, i never qualified for this when i was renting because i had equity in a house even though i wasn’t allowed to live in it they still classed this as savings. The best thing to do is phone or do a web chat with the hmrc they will be able to give you a definite answer.
Thank you so much. I was worried about talking to them, but I think it just needs to be done. Really don’t want to have nothing (apart from my incredible kids, who have thrived since the break up) to show for the difficult marriage.