Mediation for splitting house

[tgm1974]

My partner and his ex wife (I love that I can finally say ex wife now) own a �250k property together where the mortgage has been paid off for over 10 yrs. They have children together of which 2 of them are living at home with their mum. The house is 5 bedrooms and there are only 3 living there so she is able to down size.

Has anyone ever been to mediation to sort out finances with an ex?? Rather than rake up a massive solicitors bill this has been advised as the next option. Does anyone know how costly or non costly this is??

Cheers

[Ethel]

How old are the children? Your partner can apply to the court for an Order of Division and Sale but if his ex can show that that would be bad for the children he may not be successful. The courts are very keen than children of divorcing parents do not suffer unnecessarily and a stable home is considered important, especially if they are at school and there is not a suitable smaller area in the vicinity.
If your partner is able to provide a home for himself whilst his family continue to occupy the marital home then it is unlikely the Order would be granted. There will be no problem when the children are grown up.

In any case, downsizing in the current market could be a very bad move, financially. Larger houses have lost more money than smaller ones.

[tgm1974]

His children are 10 and 12 yrs old. She is already struggling at the moment even though she has no mortgage to pay and has taken on next doors 21 yr old daughter as a lodger, for �40 per week!!

I think also because she is in a new relationship with someone then he sees that she has finally moved on. She is constantly going on holiday with him (7 times in 2008) of which she says that he pays so its not just a fling she is having. She does work in a bar of an evening when she is a fully qualified accountant so she can work a more productive job if she wanted!

He does have a home with me which we are paying for jointly but he says that why should he struggle also .... by the house being sold and downsized then he can give her more money towards the kids, etc.