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

01202 805020
Mon/Fri 9am-8pm       Sat/Sun 2pm-8pm
Call for FREE expert advice & service info

Help please with Consent Order

  • Ceejayjay
  • Ceejayjay's Avatar Topic Author
  • Junior Boarder
  • Junior Boarder
More
3 weeks 6 days ago - 1 week 1 day ago #513255 by Ceejayjay
Help please with Consent Order was created by Ceejayjay
Your respective ages;
Him 55, Me 48

The number of children you have and their ages; None under 18

The length of your marriage and any period of pre marriage cohabitation;
23 years plus 1 year

Your respective incomes;
Him 18K self employed, Me £15K might be £20K soon as applying for new job

Your respective outgoings;
Him contributes £225 per week to bills, Me everything else then put into our savings

Your assets - both soley held and joint;
Family Home £200K with £46K mortgage
Rental 1 bed property £75K
Classic motorbike £13k
Classic car £10k
Classic car £8k
Van £3.5k
Car £1k
Car £500
Savings £5000

Your liabilities.
No debts other than mortgage

He has pension of around £100k
My pension £2.5k

I would welcome a 50/50 split.

The issues I have

He is adamant he is buying me out but can only get 76k total that includes the 46k On the FH so an extra £30k

The rental house it was agreed that it is split 3 ways with our 2 boys
They have 1/3 each and me & husband have 1/3 between us. This is only a verbal agreement as on paper it’s just me & husband. I intend to honour our agreement as if it wasn’t for our boys hard work doing this house up then we would have not been able to get this house. They also helped us out massively with finances.

I really don’t know how we can go about splitting this with the added complication of this rental. Any advise would be most gratefully received please. Thankyou

Just to add I’ve just read about what can be taken into account when a judge looks at the CO

......so wanted to add that I’ve suffer with a debilitating MH condition since childhood and I only managed to get out working from Sept 2015. Up to that point I lived on tax credits & my ex husbands maintenance payments with very little coming from current husbands self employed business as he mainly spent it on beer and cigarettes.

I also cared for husbands Mum 24/7 for 18 months until she died. We sold her house for £60K and we put that towards a suitable home for ourselves & her.
Last edit: 1 week 1 day ago by Ceejayjay. Reason: Forgot detail

Please Log in or Create an account to join the conversation.

  • Ceejayjay
  • Ceejayjay's Avatar Topic Author
  • Junior Boarder
  • Junior Boarder
More
1 week 1 day ago #513516 by Ceejayjay
Replied by Ceejayjay on topic Help please with Consent Order
Please could anyone kindly offer any advise ? Thankyou in advance

Please Log in or Create an account to join the conversation.

  • hadenoughnow
  • hadenoughnow's Avatar
  • Moderator
  • Moderator
More
1 week 1 day ago #513518 by hadenoughnow
Replied by hadenoughnow on topic Help please with Consent Order
Financial settlement on divorce is based on needs first. If there are no dependent children the strict need for each of you is a 1-2 bed place. How big is the FMH? How much would a suitable 1-2 bed property cost to buy?? What mortgage capacity do you have?
Are you confident his income is what he says it is?
What happens to the income from the BTL? How much do you get from it? Would it be suitable for either of you to live in??
Who do all the classic vehicles belong to?? Could they be sold to raise funds? Remember you are looking at 50% of the whole pot and they are all in the pot.
I appreciate that you want to share the BTL with the children but it is an asset of the marriage and giving a share to adult children is not going to work if there isn't enough to house you both without it.
You have to consider your needs for housing and income, now and in the future, first.

Hadenoughnow

Please Log in or Create an account to join the conversation.

  • Ceejayjay
  • Ceejayjay's Avatar Topic Author
  • Junior Boarder
  • Junior Boarder
More
1 week 1 day ago - 1 week 1 day ago #513522 by Ceejayjay
Replied by Ceejayjay on topic Help please with Consent Order
Thankyou. I really appreciate your time to help me.

Family home is 3 bed. A suitable 2 bed would be £170k. Our rental is a one bed but my Son is staying with me for now.
I earn about £15k at minute but have applied for another job and if successful £20,500.
He is self employed & his books show £18k profit per year.
We get £485 pm for btl & it pays our mortgage.
Classic vehicles are joint assets.

How does this look for a 50/50 split please ?

He buys me out of family home with 77k funded by topping 46,000 mortgage up to 76k (which he has been told is his max mortgage borrowing) plus giving up his share of the rental property (£37,500) Any shortfall made up with his pension of which he can take 25% now.

HE is adamant he won’t sell the vehicles
Motorbike £12,000 He keeps
Classic Car £ 5,000 He keeps
Mini £10,000 He keeps
Van £3,000 He keeps
Toyota £ 500 He keeps
Mazda £1000 I keep
Furniture & white goods £3,000 He keeps

He has the classic vehicles to fall back on & sell should he struggle & he is happy with that & I have the rental.

We both agree on this split but he has no solicitor & mine has gone off radar since Covid. I needed to tell her husband was arrested for smashing family home up but she has still not replied to my message. Last I heard on 30th June was we were waiting for sealed petition back from the court.
Last edit: 1 week 1 day ago by Ceejayjay. Reason: Error

Please Log in or Create an account to join the conversation.

  • hadenoughnow
  • hadenoughnow's Avatar
  • Moderator
  • Moderator
More
1 week 19 hours ago #513528 by hadenoughnow
Replied by hadenoughnow on topic Help please with Consent Order
There is circa £265k in cash assets. That is just over £130k each. Is the £18k profit what is left over after he has taken a salary? Have you seen the business accounts? There should be full financial disclosure before you agree anything.

He could keep the FMH but would have to sell some of the classic cars to do so. The classic vehicles are a want, not a need.

Or he could keep the btl and the vehicles and you could retain the FMH. Or it should be sold and the proceeds divided so you get the equivalent of £130k (which may include the btl which you could live in and choose what to do with the residue)

The pension pot would be split 5050.

It may be worth investing in a legal financial consultation. Give the helpline a call.

Hadenoughnow

Please Log in or Create an account to join the conversation.

Moderators: wikivorce teamrubytuesdaydukeyhadenoughnowTetsSheziLinda SheridanForsetiMitchumWhiteRoseLostboy67WYSPECIALBubblegum11