Consent Order - Installments

[techcorp]

Want some advise on whether a judge would accept a proposal like the below for a consent order

Person A - Works full-time. Income £18500. Stayed in home. Not much pension or savings.

Person B. Moved out. 2 kids. Child 1 aged 6 with disability so a carer for child. Cannot work due to son. On IS, HB, DLA for son and Carers allowance. Did not want to remain in the property. Privately rented. Own choice to move. No savings.

Person B gets approx £39,000

Person A wants to keep property as kids visit every weekend. Cannot get another mortgage for the £39000 due to existing mortgage and low wages

Person A and B both agree to a possible solution so house is kept. Both happy with this potential solution

Person A pays £500-£600 per month or 6/12 months installments (­base­d on £500-£600) to Person B.

Just want to know how likely a judge would accept this resolution on a consent order. Wound he approve something like this

Impossible to say
What’s the value of house and it’s equity
Other assets?
Length of marriage?
What about child maintenance?
On a gross salary of 18k 600 a month is massive amount
Where does the 39k come from ?

£59,000 equity
£9000 savings
No other assets
14 years marriage
60% of equity plus 50% savings
£220 Child Maintenance
Could do £500 - Low spender.

What are the ages as relevant to potential length of working life.

So the monthly payment is effectively paying the equity over a long period of time?

You save not much pension but they have to be put in the pot.

Person A 41 and Person B 37

Yes paying the equity, monthly, every 6 or 12 months

Not been putting much into a work pension unfortunately.

What are my chances with this proposal with a judge

As there are limited assets and the carer with the child has close to 60% it appears reasonable however it assumes you can get the equity. This might be a the question a judge would raise.

What could happen if he can't pay the equity, due to job loss? The house may need a charge registered to ensure payment. Also should there be a cost of money calculation.. I.e if it takes 5 years to pay equity will interest be applied?

A solicitor should be able to write a consent order to cover this however.