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What are we each entitled to in our divorce settlement?

What does the law say about how to split the house, how to share pensions and other assets, and how much maintenance is payable.

What steps can we take to reach a fair agreement?

The four basic steps to reaching an agreement on divorce finances are: disclosure, getting advice, negotiating and implementing a Consent Order.

What is a Consent Order and why do we need one?

A Consent Order is a legally binding document that finalises a divorcing couple's agreement on property, pensions and other assets.


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.


What am I entitled to

  • marielee
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01 Jun 12 #334519 by marielee
Topic started by marielee
I''m a new member and would appreciate your help. I was married for 9years; 2000 - 2009 (divorced finalised) seperated in 2008,but no financial settlement was ever agreed and I want to know my rights and entitlements before I try and negotiate with my ex.
me - 43 ex - 44
2 children 11 and 9 who live with me and but see their father on alternate weekends.We are all in good helath.
My ex does not pay maintenance and no CSA application has ever been made.
My income is £2520 net per month I estimate my ex income to be approx £1000. Neither of us has a pension. I have been in my job for 13 years and have no reason to believe this will change. My partner has been in his current job for 3 1/2 years.
marital home value approx £160,000 mortgage currently £145,000 ( I have paid the mortgage from my own account from my salary since 2004) my ex did not work from 2004 to divorce apart from some odd jobs on a self employed basis.
Debts - me - car loan £4400 taken in August 2011. Bad debts from prior to the marriage of £11000. Ex has bad debts he is settling of approx £20K from the time of our marriage.
Ex now lives with partner in house owned by her they have been together 3 years.
I live with partner in marital home that I pay for, including last year carrying out £2500 repairs to roof.
The property has an acre of agricultural land as part of the valuation which the local planning department say will not get planning permission within the next 20 years.
I don''t want to give up the children''s home, I can afford the mortgage but I cannot afford to pay massive settlement to my ex which he thinks he is entitled to.
Where do I stand?

  • cookie2
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01 Jun 12 #334540 by cookie2
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How much does he want? If he thinks he is going to get a "massive" settlement then he will get a shock when he re-joins the real world. There is only £15k in the home and more than likely this would be awarded to you anyway.

However he is in the position of having nothing to lose. He is on the deeds of the FMH and (presumably & understandably) you want him off. You have 2 options, you can either take it to court (you will most likely win, but you may pick up significant legal fees) or you can give your ex some go away money. The question is, will he accept a sum that is lower than the fees you would have to pay for court action? I would tell him you''ll give him £2k to bog off. If he haggles then go up to £3k, but no more.

Of course don''t give him anything until it''s all signed and sealed in a Consent Order.

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01 Jun 12 #334560 by dukey
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A very good first post actually usually more questions are asked but you have covered all the facts.

I agree with Cookie, there is very little in the way of assets here and i would guess the former marital home is not that large given its value, given the equity is very modest again i agree a small payment (if of course you can afford it) would be the best way to end the matter.

What you both need is a Consent Order to end any claims you have against each other, it does not need to be complicated or expensive, is just a case of agreeing a settlement.

If he were to refuse on the basis that this land could be a pot of gold for the future then he will be disappointed, so maybe you should apply to court to end the matter which you can do alone, you don`t need a solicitor if you can`t afford one, you will need help though, but wiki can offer that free of charge.

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01 Jun 12 #334567 by marielee
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Hi

Thank you for your advice, the adviser from wikivorce told me how to set my post out so all credit to him!
I don''t have £2-3k on hand to offer as a settlement and not certain I can get a bank loan which worries me.My other concern is although I am paying and have paid the mortgage for years from my salary without ever being in arrears when I spoke to my mortgage company they said I would have to reapply as a new applicant for a mortgage and that their system suggested that i couldn''t afford the mortgage and therefore they wouldn''t grant me one - which seems really unfair - is this really the case or should I try and speak to someone more senior?

Here come the questions! - the divorce was granted in 2009 at which time the mortgage was £157,000 and the valuation was pretty much what it still is - would the court take this into consideration as I''ve seen in the newspapers that exes who try to claim part of the current value have been knocked back?

Dukey you mentioned the land and yes he does think this will be a pot of gold in the future but I don''t want to be tied to him for the next 20 years and want this sorted now - will the court just deal with the facts of the here and now?

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01 Jun 12 #334579 by cookie2
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marielee wrote:

my mortgage company they said I would have to reapply as a new applicant for a mortgage and that their system suggested that i couldn''t afford the mortgage and therefore they wouldn''t grant me one - which seems really unfair - is this really the case or should I try and speak to someone more senior?

That is a common predicament. Mortgage companies don''t really care about your divorce. All they care about is their own risk. Usually a person can borrow 3.5x their salary. If the outstanding mortgage is more than 3.5x your salary then they will probably refuse you. Speaking to someone more senior won''t help - it''s their choice to offer you a mortgage or not.

the divorce was granted in 2009 at which time the mortgage was £157,000 and the valuation was pretty much what it still is - would the court take this into consideration

No, a court looks at the figures at the time it is asked to look at the figures. It does not back-date them to separation, divorce, or any other prior date. However the fact that your ex has been getting on just fine for 3 years does add weight to your case. He can''t really claim a "need" for equity from the house if he''s been perfectly OK for 3 years, can he!

I don''t want to be tied to him for the next 20 years and want this sorted now - will the court just deal with the facts of the here and now?

Yes. But court is expensive. Lets say you get everything which is likely, your legal fees might be £5k. So as you can see you''re better off giving him £3k in a brown paper bag to make himself scarce.

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01 Jun 12 #334580 by marielee
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I wish he would!!!

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01 Jun 12 #334581 by dukey
Reply from dukey
The lenders almost always require a new application to see if they will allow you to release your ex from the mortgage, very often though the answer is no.

This is not a problem because court can award the house to you and you would have title for the property, so it yours alone in other words, but he may still be on the mortgage, you see court don`t have the power to order a lender to release him, but it doesn`t actually make any difference to you.

Court look at all circumstances in quite some detail, many cases that go to court are needs cases, meaning there is not enough money to meet respective reasonable needs, your is a needs case, you have very little equity.

The first need for consideration of court is the housing needs of children, so as the main carer you needs will come first, court also like to prevent disruption of the childrens lives, for this reason where possible children are kept in the home they know, we have to assume your ex`s housing needs are met, he has lived with his partner for some time now.

In short you have little to worry about here, very little money and two kids to look after, plus you can`t get blood from a stone.

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