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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.


CSA / Mortage Payments / Equity

  • dooda
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16 Feb 08 #14111 by dooda
Topic started by dooda
A couple of weeks ago I was asked to leave the family home by wife and am just about to start divorce proceedings against her for unreasonable behaviour.

I have just had a call from the CSA regarding child maintenance which is fine. (3 kids)

They mentioned continued mortgage payments and financial interest in the house as this would impact how they work out my CM contributions. Is this right? Now I am worried about my rights to the equity.

Do I need to continue to contribute to the mortgage to retain a financial interest in the equity of the house - which is about £140k?

If so should I only contribute the percentage relating to the equity I will receive.

We have been married 14 years but only bought the house in 2001 - before that we rented.

I can not find anything on the CSA website that relates to property at all.

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16 Feb 08 #14114 by dukey
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Hello and welcome to the site if you could post some more details to help with the answers
how old are the children (3)
what you earn
what your spouse earns
If all three children are under 16 (18 if in full time education) your CM will be 25% of your net earnings, and no you cant pay based on your share of equity.
If you can agrea who pays 50/50 perhaps it will make life easyer than fighting it out in court, if you can keep talking and dont let the sols start a war.
I wish you good luck and look forward to your next post, dukey

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16 Feb 08 #14117 by dukey
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Sorry forgot the morgage bit if your name is on the morgage you are liable to pay if its jiont then you both are if there is a problem contact the lender to explain.
Financial matters are delt with when AR is applied for.
If you refuse to pay the morgage your spouse will lightly apply for an interim order to help pay so either way you will have to pay, dukey

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16 Feb 08 #14118 by dooda
Reply from dooda
Thanks.

In answer to your questions - Maintenance for the kids(14b, 12b & 10g) works out to be £720/mo based on no access which will come down to around £620/mo when we have finalised my share of looking after them.


My take home is £2800/mo
Wife is £650/mo
The mortgage is £1050/mo

With maintenance her salary (soon to increase) and all benefits she will now clear around £2500/mo.

Do I still have to pay 50% mortgage to retain my share of the house.... this would make my situation v hard given I need a two bed flat for when kids stay and give my wife around £600/mo or so to fritter each month.

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16 Feb 08 #14119 by dukey
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Hi Dooda with W wage £650mo CM £625-£1275 where is the other £1225 from? i will find the calculate used and work it out but at first glance i would think yes perhaps more than 50% off to find it

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16 Feb 08 #14120 by Fiona
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Contributions made towards the costs of the FMH during the CSA initial payment period (ie between the assessment starting date and the date that the first maintenance payment becomes due) will reduce child support payments during the period. It doesn't affect your interest in the property.

Determining whether or not to contribute to the costs of the FMH whilst divorcing is a matter of common sense. You can't just walk away from a spouse and leave them struggling financially, but that has to be balanced against the additional costs incurred in rehousing yourself.

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16 Feb 08 #14123 by dukey
Reply from dukey
Hello dooda ive done the sums but must be getting it wrong some how so im leaving this one to those more in the know, i also put the basics into the wiki calc perhaps you should do the same and take note of your estimated property share at the bottom, understand the court consider the welfare as paramount, im sure and xtb want the best for you children and talking is the best way th achive that best of luck

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