The wife always gets the house…

This is a common belief, but not an accurate one. When resolving a financial settlement following a separation or divorce, there are many things that can affect the ultimate outcome. All aspects need to be considered including the full financial circumstances of both parties. This includes but is not limited to properties, pensions, income, savings, investments as well as liabilities.

There will also be facts to consider that are unique to the case, such as the ages of the parties, the ages and needs of the children (if any) and the length of the marriage. The parties’ contributions, particularly pre-marital contributions, may also have a bearing in some circumstances.

External monies received such as inheritances, gifts, or loans from relatives or third parties can also have a bearing on the outcome as can prospects of inheritance.

The needs of the parties and the children are usually a key factor and affordability needs to be considered. For example, if the parents are going to share care of the children, then both parents have equal housing needs. If one parent earns more than the other, then an adjustment might be made in any capital split to allow them to purchase similarly priced properties.

A solicitor will always consider all aspects of the case including a detailed history, before advising as to the likely outcome.

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