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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.


Mortgage

  • Charlene1985
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16 Apr 20 #512149 by Charlene1985
Topic started by Charlene1985
Quick question.






Does my mortgage borrowing capacity affect the settlement if a buy my partner out of his share of the marital home?

Covid 19 I have been advised by a local estate agent is likely to drop the value of the property by 10k.

But that aside.

I will use example figures now exact figures

The example equity is 30k
We are arguing over 50/50 60/40 or 45/55.

My mortgage to re mortgage will only allow me to borrow enough to offer my ex 12.5k. This is in between 40 and 45%.

Will the courts take this into account of will they force a sale in this example circumstances?

  • .Charles
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17 Apr 20 #512150 by .Charles
Reply from .Charles
First thing's first - you refer to your partner and the marital home. Were/are you married or did you just cohabit?

Charles

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17 Apr 20 #512154 by Charlene1985
Reply from Charlene1985
Yes we were.

The figures are just example figures for my question so i better understand the process.

  • hadenoughnow
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25 Apr 20 #512217 by hadenoughnow
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It is hard to comment on just one aspect of settlement without knowing more about the whole financial picture.

Unless it is a very short childless marriage, financial division on divorce is based first on needs - for housing and income, now and in the future - and the means you have between you to meet them. This includes capital, incomes, pensions and other assets.

Where there are children, their needs are the priority.

Have a look at section 25 of the 1973 Matrimonial Causes Act.

If you need help to understand the process, you could give the helpline a call to see how we can assist.

Hadenoughnow

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25 Apr 20 #512218 by hadenoughnow
Reply from hadenoughnow
It is hard to comment on just one aspect of settlement without knowing more about the whole financial picture.

Unless it is a very short childless marriage, financial division on divorce is based first on needs - for housing and income, now and in the future - and the means you have between you to meet them. This includes capital, incomes, pensions and other assets.

Where there are children, their needs are the priority.

Have a look at section 25 of the 1973 Matrimonial Causes Act.

If you need help to understand the process, you could give the helpline a call to see how we can assist.

Hadenoughnow

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