husband and i seperated may 2008 - he is a high earner and i work part time have 10 year old daughter and care for elderly mother who is disabled and lives on her own. Cant get my full time hours back at my current job at the moment, and with care responsibilites i really dont feel i can work any more than i do at the moment - i work 23 hours over 4 days, spend on average 1 day a week at my mums (unpaid) and earn about 10k a year. On top of my income i have tax credits of around 3500 per year and my husband pays 700 per month in child maintance (voluntary)
Our family home is currently valued at between 174-180k we had a mortgage of 18k
Our mortgage was overpaid (due to sale of shares in 2007) however last October my husband removed 45k from our mortgage overpayment and increased our 18k mortgage to 63k - he used this as deposit on another house which was bought jointly with new girlfriend for 250k.
Financial matters currently in the hands of lawyers as my husband says he will only agree to a 50/50 split of nett proceeds from the sale family home. He says once house sold the 45k he removed will be put back.
I objected to the removal of the funds as our joint mortgage has increased from 140 per month to 483 - whilst my husband has said he will pay this until house sold - i am very worried that if he were to loose his job or ability to pay then this burden falls upon me - however his lawyers say i have no reason to object to this.
I am 47 years old just now
Current housing for daughter and I - husband has said we can stay here for 2 years until market picks up then house goes up for sale and we get 50%.
I dont feel at the age of 49 i would be able to take on any great mortgage. gaining a house via council i have been told that this may be unlikley our housing application will not be considered until entry date for sale of house agreed. If we dont get council house then it will be temporary accomodation until we move up the list.
I dont see that there is any way i could buy my husband out of his share of the mortgage.
Do you have any advise - or solutions you can offer