A well respected, award winning social enterprise
Volunteer run - Government and charity funded
We help 50,000 people a year through divorce

01202 805020

Lines open: Monday to Friday 9am-5pm
Call for FREE expert advice & service info


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 going to court over a Financial Settlement?

Our consultant service offers expert advice and support for people who are going to court over a fair financial settlement, for less than a quarter of the cost of using a traditional high street solicitor.


House

  • Squaddie Stu
  • Squaddie Stu's Avatar Posted by
  • Junior Member
  • Junior Member
More
05 Jun 12 #335221 by Squaddie Stu
Topic started by Squaddie Stu
I have being separated from my spouse for 2 years.
We have a house together which is in joint names. We have being married and had the house since Feb 2004.
We have a six year old child together.
Since 2006 I have been finnacially solely responsible for the property.
Since the seperation the ex has not paid or contributed to the property and has had no vested interest. In addition to this the property sustained flood damage which amounted to me having to pay £27k loan.
The house is valued at £105k with an outstanding total mortgage inc the remortgage to of £93k. There is also a joint secure loan outstanding balance of £8.5k and a joint credit card of £7k with also £2k mortgage arrears, of which I am currently paying by myself.. My ex is looking wanting to sell the property under me. Which I''m residing.
We both have a poor credit rating due to me relocating being in the Armed Forces, so know the possibility of getting another property again is impossible.
Also I have suggested to her that to sell would deny our child of future asset inheritance.
I am willing to and financially secure to keep the property.
I have also told her that it is not in her best interest to sell as with the property valued at £105k and the total debt outstanding summates to £137.5k that she would be responsible for half that debt, knowing she could not afford due to being on benefits etc.

I need advice to get her name off the mortgage and also to nsure that the property remains with myself.
Also advice, dispite all the debt and me repairing the property that has improved its potential would the ex be entitled to anything and can she still make me sell the house. Surely her solicitor would advise her to cut ties with the property knowing the debt.

Also I have currently being made redundant but have a redundancy settlement which I have used to pay some joint debt and the rest is to financially support myself until I get other employment. Knowing I am not working does this increase her chances to get me to sell. Also she does not know about the redundancy settlement which I have just recieved after being separated for 2 years.

Another thing with the outstanding arrears on the mortgage the mortgage company will not remove her name off the deeds etc and with myself not working and a poor credit rating possibly will not give my consideration for a separate mortgage. Does this also stand in her favour to force the sale.

Under all circumstances I do not want to sell this house and want to remain in it. This is also a stable platform for me and to my child who I have access to.. I also suggested to her that the house should not be sold till our child is old enough. Also suggesting that the property will become his.

All advice is grately appreciated

  • LittleMrMike
  • LittleMrMike's Avatar
  • Platinum Member
  • Platinum Member
More
06 Jun 12 #335228 by LittleMrMike
Reply from LittleMrMike
As a start, your post seems to imply your daughter lives with you. Would I be correct in that assumption.

I also assume your wife lives elsewhere. How much do you know about where she lives ?

Can I assume that, although your daughter is six, she wants to remain with you ?

LMM

  • Squaddie Stu
  • Squaddie Stu's Avatar Posted by
  • Junior Member
  • Junior Member
More
06 Jun 12 #335244 by Squaddie Stu
Reply from Squaddie Stu
No my child does not live with me , just every other weekend. As for my ex I do know where she lives. It''s a 2 bedroom terraced house through the local housing assoc.
I have also done some interior work on her house for her. I pay regular maintenance through both the CSA and a little extra directly to her and when ever I have my child I also pay the costs which if I wanted could declare to the CSA by Variation Order.

She claims she is struggling on benefits yet my child is always in new clothes and always has new things as well as her.
The house is furnished as she took everything from me. Which not only do I have proof of purchase but proof he took them. To which the ex has sold several of the items prior to moving into her recent abode.

  • sexysadie
  • sexysadie's Avatar
  • Platinum Member
  • Platinum Member
More
06 Jun 12 #335265 by sexysadie
Reply from sexysadie
I think it is very unlikely that you will be able to keep the house simply to provide an inheritance to your child. In the meantime you all need housing, and that will be the priority.

You may be able to buy her out (maybe using your redundancy payment) but it is not reasonable that she should not get any of the marital assets for years, if at all, particularly if she is housing your child. So if you are unable to do this the house may well need to be sold.

Best wishes,
Sadie

  • hadenoughnow
  • hadenoughnow's Avatar
  • Moderator
  • Moderator
More
06 Jun 12 #335270 by hadenoughnow
Reply from hadenoughnow
The ex is housed in a Housing Association property - presumably this is a secure tenancy?

Between you, from what you say, there is -£35k. You have not said what your pay off will be ... how much debt would be left if you used it to clear them?

You want to keep the FMH.

Presumably you have some sort of services pension ... how many years service?

I think it is very unlikely that your ex would be expected to pay the debts as she has no income beyond benefits. She does not need to get a mortgage for the foreseeable future if she is housed.

You will not be able to remove her from the mortgage at present as you have just been made redundant.

It seems to me that the sensible option is for her to sign the house to you.
You agree to take on the debts.
You indemnify her against the mortgage and undertake to get your own mortgage as soon as practicable.
She has no share in your pension.

Of course a lot depends on a: the pensionable service and b: the size of the redundancy pay off.

Hadenoughnow

  • Squaddie Stu
  • Squaddie Stu's Avatar Posted by
  • Junior Member
  • Junior Member
More
06 Jun 12 #335316 by Squaddie Stu
Reply from Squaddie Stu
I have already suggested to take responsibility of the debts of a total of £40k inc the recent loan i took out to repair the property to a fit state.and already am making payments towards them.

My service pension does not commence till I''m 60 and also she has her own NHS pension of working 25 yrs before ceasing employment.

As for paying her out as a suggestion even though I believe with the amount of debt I am taking on and that the house has no equitable value, I shouldn''t give her anything. I have also suggested to give her the amount she put into the deposit prior to me being placed on the mortgage.

With ref to Sadie'' comment we both house our child. Although this is a seperate issue as I''m currently trying for joint custody and establishing having my son one eventing a week to self tutor him and also every other weekend and one day for the other weekend. As she so call puts it wants a social life

Also surely the court must take into account of that the house condition prior to the work and the amount or work I had to do to repair it at my cost etc

Moderators: wikivorce teamrubytuesdaydukeyhadenoughnowTetsSheziLinda SheridanForsetiMitchumWhiteRoseLostboy67WYSPECIALBubblegum11