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Ex husband demanding interest on the financial settlement

(14 Posts)

MNHQ have commented on this thread.

Renardlady Sun 31-Jan-16 15:01:31

EH has sent a solicitors letter saying he wants to impose interest on the financial settlement he is up have , the Fmh is being transferred to me and I'm to pay him a lump sum. 2DD Live with me and exH moved in with other woman 2 years ago. I applied for my re mortgage in May 2015 and got approval however the district judge looking at the financial consent order wasn't happy and halted everything until he got further info. As a result my mortgage offer expired. Eventually the judge agreed everything and consent order was approved the end of September. decree Absolute came through in November. I reapplied for the remortgage early November however had to wait for paperwork to go through various agencies, building society for verification, info to go to the mortgage dept, also exH had to sign off the TR1 which he had to be chased for. his solicitor didn't verify his ID properly so had to be sent back again. the decree absolute stated the lump sum payment to be with 28 days which would have been 10th December. My remortgage is to be completed on the 3rd Feb which is when he will get the lump sum. He is planning to go to court to ask for the interest. Is he likely to get it. I feel the delay was not deliberate on my part and I acted in good faith . Does anyone know if it is likely that I will have to pay the interest which would be over £430?

CompliantParent Sun 31-Jan-16 15:12:30

Go to court for £430? I think he may be bluffing but who knows. Those kind of sums are usually best ignored and not worth fighting over. I owe my ex over £3000 in legal fees but she has written it off. Not worth pursuing me in court for.

magoria Sun 31-Jan-16 15:57:32

Ha tell him go for it.

Tell him to drag his solicitor along at his (ex's) expenses to advise that he was partially responsible for the delay and the copies of your correspondence/final signature on the forms your ex delayed...

Then ask for him to pay your fees too.

OurBlanche Sun 31-Jan-16 15:58:25

Let him file, then!

Keep any and all correspondence on the matter. If he plays more silly buggers at a later date you can show that he has been a litigious pillock all along.

Theoretician Sun 31-Jan-16 17:32:05

I have no idea if he is legally entitled to it, but to me it sounds like it would be fair for him to be paid interest. How much extra interest would you have paid had the mortgage been completed just in time to get the money to him without being late?

Theoretician Sun 31-Jan-16 17:38:39

It's irrelevant whose fault it is that the mortgage is late completing. The interest isn't a penalty for being late, providing it's calculated at low/mortgage-level rates. It's just an adjustment acknowledging the time value of money. By paying later than planned you gained and he lost, and you paying him interest is a way of nullifying that unplanned transfer of money between you.

WhoTheFuckIsSimon Sun 31-Jan-16 17:43:06

Apart from the OP hasn't gained. The money hasn't been sat in her bank account gaining interest.

Can I ask what the sum of money being transferred is? Is £430 a realistic amount of interest for 7 weeks interest?

Scarydinosaurs Sun 31-Jan-16 17:44:07

Have you incurred any costs because of the delays?

Collaborate Sun 31-Jan-16 18:04:07

In law he's entitled to it under the County Courts (Interest On Judgment Debts) Order 1991.

See this

Funinthesun15 Sun 31-Jan-16 18:06:19

In law he's entitled to it under the County Courts (Interest On Judgment Debts) Order 1991.

I agree with having a look at ^.

Andrewofgg Sun 31-Jan-16 18:06:24

Unless the order settling the case says otherwise he is entitled to it but he is not likely to chase you for it in court.

RandomMess Sun 31-Jan-16 18:14:52

I would counter offer with a reduction for the days/weeks his delays have added to it.

Collaborate Sun 31-Jan-16 18:19:07

Between the end of september when the order was approved and the 12th of V=November when you got DA you were aware that you needed to reapply for the mortgage yet didn't. That, I think, is the main reason for the delay. By my calculations he's to pay you over £35,000. Is that right? the rate of interest is 8%.

IonaMumsnet (MNHQ) Sun 31-Jan-16 22:18:54

Hi folks. We're moving this thread over to Money Matters now.

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