Effective date for sorting finances

[Noregrets78]

Decree absolute is now through, but we still haven't resolved finances. I'm likely to have to start the court process soon.

I have been living in the house throughout, and have continued paying the mortgage in full, he lives elsewhere. However - it strikes me that I'm effectively paying off a joint debt when we haven't yet sorted out how we're doing to split things.

I'm considering paying interest only until resolved, although I think I would need his agreement?

...but I read somewhere that the 'effective date' on which you sort your finances is the earlier of the date you're sorting it out, or the date of decree nisi. Therefore whatever the mortgage balance was in September will be the balance on which we settle.

Is this correct? Can't find where I've seen this!

Thanks

[RedHelenB]

If it is less than you would be paying in rent then look at it as rent.

[Noregrets78]

redhelen that's exactly how I view it, but the full amount of the mortgage is substantially more than rent. I don't begrudge paying the interest element. But he currently believes he should be entitled to 100% of the equity in the house (a whole other story, and why I'm going to take it to court to get a fair outcome!), therefore I can't see why I'm continuing to pay the capital element unless the finances are 'fixed' at the point of decree absolute. IYSWIM...

[Collaborate]

The effective date is when it's all sorted out. Any contributions from either party since separation (like paying off debt) will be a factor to be taken in to account.

[Noregrets78]

Thanks collaborate, that's clearer.

[probablyparanoid]

I really need to understand this too and not sure I understand how this is looked at. My ex has not contributed a penny to anything for 2 years and the absolute was granted nearly a year ago. Finances are not sorted at all. The house has in the mean time risen in value and I have paid for the mortage without his help. ISAs I hold have also risen in value (although the capital contribution to them was before our divorce). My pension has also risen in value since divorce and also obviously he has not contributed. The advice that I have had is that the courts are just v practical when they look at division of capital so they just look at what the two parents needs are and what their earning capacity is (in my case ex will claim he has no earning capacity although I would dispute that). So my understanding is that his lack of contribution will not be taken into account as his argument as to needs might take precedence. Is that right?