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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.

Is this a good deal

  • jetsfan007
  • jetsfan007's Avatar Posted by
  • New Member
  • New Member
04 Nov 07 #5869 by jetsfan007
Topic started by jetsfan007
Hi everyone - im looking for some feedback as my wife and i have agreed a settlement. Married 15 years - daughter of 13. Wife works from home on £21000 - im on £20000

House valued at £175000 - outstanding on mortgage is £46000. Expected sale £165000 - £170000. Equity between £119000 - £124000.

She has personal debts of £20000 - i have £2000 on a credit card.

Wife would be maxing out at £40000 as she would have to borrow £40000, £46000 + keep her debt £20000 = £106000

I want my daughter to be well catered for and for me to be able to start over. We have agreed a deal of £40000 plus no maintenance. Whole package is worth £48000 - £49000

I have paid for everything and i mean everything including a £17000 downpayment. Im not bitter but have realised my wife's spending is uncontrollable. Over the last 10 years she must have spent in access of £40000. Most on herself although about 10% of it for the house.

There will be no legal bills as such. My wife will keep the house and my daughter will not have to move. I will be able to borrow enough for a one bedroom flat which will meet my needs.

Anyway - Is this a good deal ?

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Online mediation is a convenient and inexpensive way to agree on a fair financial settlement.

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This legally binding agreement defines how assets (e.g. properties and pensions) are to be divided.

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