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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.


House, Stepchild, investment props soo confused!

  • stroppymare
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27 Jun 12 #339564 by stroppymare
Topic started by stroppymare
Hi and thanks in advance for any help.
I have recently seperated from hubby due to his continual extra marital activities. We have been living together nearly 8 years but only married 18 months. there is one child, mine who is primary school age. She has contact with natural father who pays maint so that isnt an issue even tho hubby has been more of a parent to her.
Hubby earns approx 50K and I work part time and earn approx 16.5k. He works away and I look after house and child. House was bought recently (approx 4 months ago) and is a modest 2 bed semi.
Hubby has two investmnt properties bought during the relationship but neither contain equity due to housing slump, both are on interest only payments and were always considered our pension plan as we thought we could sell them come term and the mortgage could be covered. Both are rented out and we did discuss putting one on repayment.
Hubby has shares, buying them monthly through work, again as a pension as he has no formal pension agreement.I have a small pension (pay around 20 pounds a month so very small lol)
I would like to remain in the house and thought it fair he pay half the mortgage and then get half the equity when I am in a position to move (once i can work full time and qualify for a mortgage). He wants to sell the house now.
The house was 98k and we have an 88k mortgage. we hve a joint mortgage.
Neither of us have any debts as such (think he has credit card of 1500 and i have overdraft from a failed business of approx 2k).

If i do file for divorcee what is likely to be considered a fair settlement? I have invested 7 years supporting him through depression and keeping the home etc etc etc and the marriage breakdown is not my fault i but think that will be of little interest to a court lol.

Would really like some honest advice on what sort of situation I could fid myself in as I''m feeling very vulnerable at presnt and he has sought legal advice (as he can afford it!) and did comment he can move back in when he likes if i refuse to sell!

I work in the voluntary sector and work is reliant on funding which runs out next year so don''t think I would be able to get a mortgage to start again and considering I paid all the rent and bills etc on the old house whilst he cleared his previous debt I feel I have worked for nothing and done without in order to get him sorted financially!

Please help xx

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