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’

Sorry I meant to say he not working that much now though it ceased in 2016/17 x

@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’

So debt total is £33,000 Assets total is £202,000 He'll get 50% of the current equity plus whatever more you pay off. At current values he gets £190,000 less car debt £28,000 plus 50% house, currently £6,000. A gross amount of £168,000.

And you get £6,000 current equity and £5,000 debt. So you're getting at current values £1,000 and he's getting £168,000.

What am I missing here? If house equity is to be split 50/50 why not pension too? Why does he get 100% of the pension pot and still get 50/50 on the home equity you'll be paying off? At the least I'd be trading future (when you can afford remortgage) free title to house in exchange for not touching his pension.

I have adjusted the form with net and then 50 percent split x

Sorry it uploaded twice the photo x

Sorry I uploaded the wrong one above post - this is the corrected one with the split of 50 percent net equity - i didn’t know how else to write it? X

The figures I used also were the figures on E Forms but I just thought on they were minus the cost of the sales costs and also the early repayment fee for mortgage so would I include this in this statement of consent order like I did in financial disclosure form E or just purely take out the mortgage etc not the selling fees or the early repayment fee for the mortgage ?

It’s not really throughly explained is it on form haha and I’m just totally lost xx

[quote Lilly239]@filka so would the car amount also go into section b. Other capital?[/quote]
Yes, that looks like the right place.

Please consider financial mediation - it's far cheaper than a solicitor and according to the link below you may be entitled to a reduction if you're on a low income.

www.citizensadvice.org.uk/family/ending-a-relationship/how-to-separate/mediation-to-help-you-separate/

Lilly, get a legal appointment, print off this paperwork & take it with you. DO NOT SUBMIT ANYTHING without proper legal advice.

You are due to 50% minimum of all pension accrued during the marriage, you should agree a value for the house now & he gets a share of the equity at an agreed date (decree absolute) Our divorce was finalised before our financial consent order was done, decree absolute was January, financial consent order was May. If your ex is being hostile then a solicitor for you would hold off finalising the divorce until the consent order is agreed.

He won’t go financial mediation he won’t do anything the way he is acting it’s either this or full out war in court. And I can’t afford to fight . I tried to contact some legal help but before they look at paperwork they want to be instructed etc and I just don’t have the lump sum of money to go pay for a lawyer :( truly was just hoping if it’s sent to court this consent order and I’ve ticked the box I’m Unrepresented that they may say they won’t seal it or approve it and then my ex can’t kick off if it’s a court / judge saying they won’t approve it and then I would have more leverage to get better (that was my peaceful plan) xx

We only go to decree nisi (I’m the petitioner for unreasonable behaviour of my ex) and I have been informed to not apply for absolute untill everything sorted etc financial order (I have a consultancy helping with what happens next etc and telling me what to prepare but they don’t give advice but they did say there is a disparity on this form) x

www.citizensadvice.org.uk/family/ending-a-relationship/sorting-out-money-when-you-separate/help-with-legal-fees-when-you-separate/

Have a look through here and see what you can do

@Quartz2208 I will have a look x

...I was hoping to put this consent order in and the judge / court have an issue with disparity in favour to me so then I had leverage to go to ex and say judge won’t except it

I just wanted a peaceful life with child after all the senseless hurt towards us is that so wrong :( xx

...i do appreciate everyone’s comments on here I have read every single one , I have been so upset last few days xx

Your ex will also receive a copy of the court documentation.

Our first order was rejected as my ex refused to pay for any legal advice and the order didn't specifically say he had been advised to take advice but had chosen not to.

If the order looks like anything other than an equalish split, and there is no additional documentation to justify the disparity then it's very likely that the order will be rejected.

"financial mediation service... couple of hundred quid" /session

My friend & her StbxH are jointly paying £400 for each mediation session. The high expense is dragging out getting a resolution because they achieve so little at each session, I wouldn't want to go to mediator at that rate, either. But apparently is cheaper & making more progress than they did via solicitors.

Is going rate more like £200 or £400 total cost/session?

@whippetwhappet as you have experience of having consent order rejected what do you think of this?

My income 1800 monthly and my ex income is £2200/2300 monthly. We also have a child. His thinking is because I’m requiring his name to stay on the mortgage so I can stay in the house with child as primary parent that it’s incentive for him receive 50 percent and no pension involvement on his side to offset etc x

@whippetwhappet and I’m requiring to cover all costs for mortgage payment so he isn’t putting anything in etc x

There's no way in hell I would agree to continue paying the mortgage and let him benefit from 50% of the equity at some date in the future - that's madness. And for the sake of c£6k equity at the moment, you might be better off putting it up for sale (as sale costs will be deducted from both) and looking for somewhere to rent. That way he has no-ongoing hold over you in the future.

I suppose the lack of equity precludes you from getting a mortgage on your own and keeping the house? If not, you could always drop your pension share by £5/6k to officially buy him out of the house as part of the consent order.

Based on the net assets figure in the forms, you should definitely push for at least 50% of his pension. Perhaps more if you were a SAHM for any length of time. Has he confirmed a maintenance figure yet?

@Lilly239
I tried to contact some legal help but before they look at paperwork they want to be instructed etc and I just don’t have the lump sum of money to go pay for a lawyer

This has not been my experience, or that of others I know. So far I've had a half hour telephone discussion plus several emails with a VERY experienced, high level solicitor, and I've not been charged anything.

Moreover, she has agreed to look over and advise on the financial agreement my husband and I are currently thrashing out with the help of a mediator. She will obviously charge for that, but I'm sure it will be well worth it.

I can PM you her details if you want. She does Zoom consultations.

Also, sometimes solicitors will agree a payment plan, or wait until a settlement has been agreed.

But please do not try to do this without legal advice.

@lljkk

"financial mediation service... couple of hundred quid" /session

My friend & her StbxH are jointly paying £400 for each mediation session. The high expense is dragging out getting a resolution because they achieve so little at each session, I wouldn't want to go to mediator at that rate, either. But apparently is cheaper & making more progress than they did via solicitors.

Is going rate more like £200 or £400 total cost/session?

I think ours was £200 per session, split between us and as my ex was such a tight bastard he was keen to reach agreement soon rather than later. I suppose it depends where you are in the country though, but it was waaaay less expensive than my legal costs.

[quote Lilly239]@Soontobe60 it’s worth £204,000 apparently - and yes both put the deposit down etc[/quote]
Is this a proper valuation, or his own guess at the value?