Divorce finance split - is this ok? Asked to fill in a statement to ‘support’ the consent order

[Lilly239]

I’ve read some rejections of ‘consent orders’ just wondering if anyone has experience etc on this or knowledge - opinion what is to be expected or what could be rejected - below are some figures what is stated in my ‘information in support of consent order’

Applicant (me) retains the house with child and pays for all mortgage payments , upkeep , bills and insurances etc. On a trigger event either in a position in future to take over the mortgage or sell the property the equity will then after paying out costs and mortgage etc will be divided between former husband and wife 50% each equity.
No pension sharing orders.
Clean break other than me staying in the house with child and child maintenance payment.

How was this decision come to?- between the parties

Property (net of any mortgage): £12,000

Applicant liabilities:
(me) £5,000.
Respondent liabilities £28,000 (this amount is a car finance belongs to my Ex)

Pensions:
(me) £0.
respondent £190,000.00

Income:
(me) £1,800
respondent £2,300
child of family (receives child maintenance through cms)

Any thoughts anyone? Is this ok seems reasonable to not get ‘rejected’

This is the who section and I have the figures below

Property (net of any mortgage): £12,000

Savings: £0

Applicant liabilities:
(me) £5,000.
Respondent liabilities £28,000 (this amount is a car finance belongs to my Ex)

Pensions:
(me) £0.
respondent £190,000.00

Income:
(me) £1,800
respondent £2,300
child of family (receives child maintenance through cms)

Why don’t you have a pension?

£1800 isn’t a bad income, why weren’t you looking after your own interests and paying into your own?

Because I stayed home for a few years looking after child because we had no one else to do so and husband earned more and worked 40+ hours a week (full time) I went back to uni to top up my degree and secure a better job (promotion) and that was all in the plan but then we split and I was kind of left thinking what to do 🙄
In hindsight should of been doing but I was doing what I thought was best for child and husband etc x

You are getting totally screwed. Please don't accept this.

A plus whatever it is for capital should result in the answer £12,000 as £12k plus zero capital is £12k. The family assets are those plus the pension plus the other small few things you mentioned.

If the husband cashed in his pension now (which is rarely wise) and paid a 55% tax on that (which he could with a private pension but not all pensions) would the £85,500 clear the mortgage? I was just trying to think of ways you do not both continue to own the house but it can go just into your sole name.

How much is the house actually worth and how much did each of you contribute to the purchase? Also. How long were you married?

Not an expert at all, but I don't see how he can include the car loan in his list of liabilities without including the value of the car in the list of assets. Basically the same way that the house/mortgage works, except in this case it's all in his name.

I would expect the car value to be more than the car loan, so this should be a net asset, which would be in your favour.

Why on earth would you spend years scrimping & saving to pay off a house which he can then claim 50% of when he demands you sell it (which he will when it is paid off)?

His solicitor was working for HIM, getting the best outcome for HIM, not you & your child.

Do not sign off on this consent order. He has lied, sold assets & wants to bleed every last asset of this tattered relationship. I am so sorry but you have got to fight for you and your child. Do not be bullied by this awful excuse for a decent human being. Do not roll over & agree for a quiet life. Think of his smug face if he gets all his own way & takes everything from a child he should love.
Get angry, be clever & find a way to get representation to help you. It will be worth it later on when this cockwomble is out of your life and you BOTH have a fair share to start again.

@filka so would the car amount also go into section b. Other capital?

@CoffeeBeansGalore I know ❤️😖 I’m just so scared I just didn’t want to loose my home with child with hardly being an equity I couldn’t start again properly :( x

@Soontobe60 it’s worth £204,000 apparently - and yes both put the deposit down etc

...But once mortgage and interests etc etc are taken out it was worked out only £12 k left in equity we only bought it recently within last 2 years it hasn’t been fully appreciated yet in value / equity

No this is a terrible settlement. Sometimes the judge accepts terrible settlements i:e my first marriage depends on the judge and then you will be stuck in this awful situation. Why should he get half of everything you've paid for after 20 years?
Split it now and start again and don't sell yourself short.
Men rely on bullying to get what they want we shouldn't give in.

I would suggest finding a financial mediation service. I used one as part of my acrimonious split with my ex (I was the higher earner with the bigger pension) and it was really helpful in determining a fair way of splitting the assets at the time.

It was a couple of hundred quid, we had three session, and the mediator was able to guide us in terms of what was likely to be accepted by the court.

Looking at his proposal, I'd reject straight away. Pension pot should be split, he shouldn't be able to take 50% of the equity in the future if he hasn't been paying the mortgage. If he's not going to pay maintenance then maybe the pension split should be more in your favour.

I wouldn't worry about him blackmailing you about past council tax issues, the Court won't see any of that or care about how you feel about each other. My ex threaten me with all sorts, he's now moved far far away with a new gf who he knew for five months and pays about £6pw per child on occasion.

Actually OP I think the only way you will lose the house is if you go down this route.

You need to I think find some proper legal advice and send him a counter offer.

With CM payments taken into account + your salary are you sure you can’t cover the mortgage? With his salary you’ll be looking at £400+ a month in CM I would think. If this is possible, even if you have to tighten belt for a few years until your promotion etc I’d be pushing for the house and some of the pension (let him have higher % of pension in exchange for the equity in the house, which is only very small).

If he’s managing to fund a fierce lawyer I think he has savings accounts he’s not disclosing too as how else is he paying the legal bills.

I asked the same because I said his legal bills were not coming out of his disclosure apparently parents are finding it 🙄 I can’t win against that they can drop 10k on legal bills no problem I have no one to help me like that financially my parents are not alive - I just have no one like that financially I have great support emotionally off some other family members just no one to help like the at financially for a proper solicitor :( one solicitor wanted thousands up front just to look at my case and sort paperwork etc x

I can cover the mortgage payment yes but not take over it right now I’ve been through all the options just not possible right now, but I’m a few years time it would be possible . All I just didn’t want was to lose my home with child they been through enough with all this crap too I just wanted a fair outcome and the house but to retain the house he said he would only take 50 percent in future what the house is worth (even though I’m paying for it fully) and to keep the pensions out. Now it is whether a judge will pass this? One might not care one might? I have filled this out and changed some figures just because of privacy haha don’t want my ex somehow figure out who it is or something 😂 but the figures are as close as so apparently this car (when I’ve looked back on paperwork) is worth for example £18000 but to repay it off would be £21k + (like I said changed some figures around for privacy but close as) but I’ll need to double check that car figure and what it’s worth .

What does everyone think of this filled in form?

PLEASE, PLEASE consult a family solicitor. Even if you can only afford a few hours, it'll stop you from being screwed over.

Lilliy, I've never done this myself & slightly confused. But looking at the instructions above the table, shouldn't the property (House equity) total be divided between you, i.e. £6k each? Or do you have 12k each in the property?
I'm sure someone with more experience can comment.

But honestly I would hold off on completing this and any other paperwork until you have had some sound legal advice.

Good luck

Op you could start again if you received half his pension

I did some calculations (excluding the car debt and the car value which also needs to be included if the car debt is included).

It worked out that you get less than 3 percent of the assets and he gets more than 97 percent.

Plus you are housing your child.
You really need to rethink this. I know you want stability for your child. Are they at school? Would moving mean you need to change schools? I’m not convinced that keeping the house is really in your best interests. Can you look around to see what other accomodation you could afford if you had a 85000 pound deposit?

You are the stability that your child needs in their life, not a house. And your child needs you to be happy and healthy and not stressed because you’re pouring all your money into a house that your ex is then going to take half of the equity in.

You are entitled to part of the pension. The chap is an idiot for marrying with that level of asset difference in pension pots. The UK really does have the worst marriage laws.

@CoffeeBeansGalore yes that what I thought so if there £11,720.60 equity should it be divided 50 percent?

@Whoarethewho he only got that much by me looking after the child and him leaving for days upon time over years to go ‘work’ I put my career on hold for him to pursue this work. He is not wanting that much though now this ceased in 2017 x