Settlement in instalments

[Fuctifanow]

Thinking of divorcing more and more seriously. Of course I’ll take proper legal advice but in the meantime I’m pondering: assuming everything is amicable, once a settlement figure is agreed between the parties, will one have to give the other the full amount before the final order? Or can the two parties finalise the divorce on the basis that they have agreed on a figure, and then this can be given in instalments afterwards?
I know I’ll owe my DH an obscene amount and I’d rather not saddle myself with a massive mortgage. So if he agrees could I give him an amount a month until the interest rates (hopefully!) go down a bit more, and will this have to be detailed in the consent order? All of this assuming there is trust and no bad feelings (as far as it’s possible in these circumstances).
I hope I’m making sense

Our settlement was in instalments over a couple of years. Can’t say I’d recommend it as it drags everything out but needs must when things need to be sold etc.

But were you actually divorced before the house got sold?

You possibly could but you’re delaying his money - and if it was me I’d want more and interest with the time value of money factored in ( if I was your ex ) as you’re preventing me investing it elsewhere

If you both make an informed decision to release the money in instalments then it could be ok. But he might not agree and like a pp said why would he agree. I wouldn’t agree. I’d want my money asap just like the other party wants their money asap.

If you think is unfair consider whether you would like to be told you need to want until interest rates come down to a level your ex can afford to get your share of the money. Because that is a never promise.

If you want to buy him out then you need to make that offer in good faith. Which means you need to be able to afford to buy him out. Not making a good faith offer and playing for time is a guaranteed way to ensure your divorce won’t be amicable or cheap.

Yes that makes sense.
If I gave him more to factor in the interests it would still be preferable to me (= interests would go to him rather than the bank!)

Thank you all for taking the time to answer

Will be a bit different as I'm in Scotland but we'll have sold the house before divorce and assume we'll split that money immediately. However pensions can't be shared until after divorce.

My solicitor is doing a separation agreement for me at the moment so we can get finances agreed but has said not to put house on market until that is signed off, probably about 8 weeks or so. I'm guessing we will instigate divorce quite soon after that though so that things don't drag on too long, however I think we'll be sorting finances in tranches as opposed to installments if that makes sense.

You are getting way ahead of yourself. You need to speak to him about the end of the marriage and then deal with the financial consequences. And your financial consequences are yours to manage not his. You are divorcing him, that’s your choice, and it means you will no longer be financially tied. So if you want to own a house you will need the capital and mortgage to own that house. Dont effectively borrow off the person you want to divorce.

Otherwise you will be telling him you want a divorce but you also want him to help you buy a house in such a way that he can’t buy a house.