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-6pm       Sat/Sun 2pm-6pm
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 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 does a likely settlement look like?

  • NYK4946
  • NYK4946's Avatar Posted by
  • New Member
  • New Member
04 May 21 - 04 May 21 #516617 by NYK4946
Topic started by NYK4946
I’m hoping someone can kindly give me their advice please?

Relationship for 9 years (married for 5)2 kids (3 years and 6 months). Kids stay overnight every night at their mothers. I see them every day but they do not stay overnight with me.

Joint assets:

Equity 400k (900k value, 500k mortgage)
Car 10k (paid for by me)

Declaration of trust:

Our house deposit and renovation costs were funded through initial contributions of 150k from my wife and her parents and 15k from me.This was entered into before we were married to protect my wife in the event we split up. It was on the understanding I would pay 66.6% of the mortgage and my wife 33% (which I have done for 5 years).

The DOT states that upon a sale our contributions would be repaid first and any balance (after repayment of mortgage) would be split 80/20 in her favour.

However since then:
  1. we have since remarried
  2. we have repaid 100k of her 150k initial contribution from remortgaging
  3. I have paid for all significant purchases (holidays, furniture, car, white goods etc)
  4. I have paid 80% of all mortgage and other outgoings (for 5 years) and her the remaining 20%
  5. We have not updated/revised the DOT
My assets:

Income 126k
Savings 85k
Pension 135k

Her assets:

Income 85k
Savings 130k
Pension 50k

Current situation:

My wife is in the house and I am staying with parents on a short term basis. I am happy for my wife to stay in the marital home but I would like to come to a Clean Break settlement so I know how much money I will have spare every month to buy my own house.

Could anyone kindly give me a sense of what a fair settlement looks like based on the above please (in particular the equity split on the marital home bearing in mind the DoT)?

Thanks very much in advance for your time.
Last edit: 04 May 21 by NYK4946. Reason: Formatting

  • hadenoughnow
  • hadenoughnow's Avatar
  • Moderator
  • Moderator
16 May 21 #516725 by hadenoughnow
Reply from hadenoughnow
It is impossible to give a view based on limited information beyond saying that the needs of the parties and especially the children will be the priority. The question here is how needs for housing and income now and in the future can be met (and afforded). A Deed of Trust may be overturned if needs cannot be met if it stays in place. If there is a paper trail showing funds have been repaid, this would strengthen the case against it staying in place.

What would it cost to buy a suitable alternative property? This should be big enough for the children to stay in either place. How much mortgage can you each raise independently? Can she afford to take on the FMH mortgage and raise a sum sufficient to buy you out?

It is this that will be the determinant.


Moderators: wikivorce teamrubytuesdaydukeyhadenoughnowTetsSheziLinda SheridanForsetiMitchumWhiteRoseLostboy67WYSPECIALBubblegum11