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Ask Clare Your Own Question
Clare
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 34234
Experience:  I have been a solicitor in High Street Practise since 1985 and have specialised in Family Law for the last 10 years
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I have been trying to resolve a settlement with my ex for five

Resolved Question:

I have been trying to resolve a settlement with my ex for five years through solicitors. She lives in the marital home with our two children 12 and 15. Property worth 300,000. I own two flats worth 200,000. We agreed settlement of me giving her 70,000. Then she said 80,000, which I agreed. Now she wants 87,000. I feel she will keep pushing it up. I am tired and frustrated. Do you think if I went to court it would be worth the financial outlay? I want my children to stay in their home. I live elsewhere.
Submitted: 2 years ago.
Category: Family Law
Expert:  Clare replied 2 years ago.
Hi
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
Are there outstanding mortgages on these properties?
What income do you each have?
Clare
Customer: replied 2 years ago.
1) Value of family home, £250,000. Outstanding mortgage £ 87,000 ( The house is in her name only ) The current monthly repayment is £ 80
2) Value of my house. £ 260,000. Outstanding mortgage £ 154,000 ( This house has been converted into two flats which are at present rented out and have an income of £1130 / month jointly. This property is in my name only and the current monthly repayment is £350
3) Both properties have interest only mortgages which finish in 2022.
4) She is asking for the full £ 87,000 . The only way this could be raised is by selling my property.
5) My current income is £ 3200/ month, Net + £ 1130 Gross
6) At present I pay £ 617.00 + school uniforms. bus passes, school trips and holidays for my two children. ( Voluntary, not by CSA.)
7) I believe her earnings are £ 550/month (Part time job, 20 hours per week ) + family tax credits + family allowance and anything else she gets.
Expert:  Clare replied 2 years ago.
Hi
Could she work full time?
Clare
Customer: replied 2 years ago.
There is no reason why she could not. She only wants to work enough hours to ensure her benefits
Expert:  Clare replied 2 years ago.
Hi
Where are you currently living?
Clare
Customer: replied 2 years ago.
With my new partner
Expert:  Clare replied 2 years ago.
Hi
Does she own her own home?
Clare
Customer: replied 2 years ago.
Yes with mortgage
Expert:  Clare replied 2 years ago.
HI
On what basis did you offer £80,000?
Clare
Customer: replied 2 years ago.
Because that is what she informed me the mortgage was that would be left to pay back in 2022. Now she tells me it is 87000
Expert:  Clare replied 2 years ago.
Hi
What capital did you each bring to the relationship and does your ex have a new partner?
Clare
Customer: replied 2 years ago.
As far as I know she does not have a new partner.
I moved into her property which is the current marital home where she lives with our children and I was step parent to her other two children who were 13 and 15 when I moved in in 1997. She did not work when I moved in and I paid the mortgage, built an extension and was sole earner for 15 years.
When I moved out I only took my personal belongings. I carried on supporting the family and paying the mortgage for a considerable length of time to ensure the family's financial security.
I bought the flats in 2008. I left there in 2010
I had no property of my own in 1997.
I also left her with a car which I bought for £20,000
I hope this makes sense.
Expert:  Clare replied 2 years ago.
Hi
It does indeed.
How much was the property worth when you move din and how much was outstanding on the mortgage?
(best guesses are fine)
Clare
Customer: replied 2 years ago.
Probably around £ 70,000 and £24,000 outstanding.
It was then remortgaged twice. The first was to build the extension and the second was to put a £20,00 deposit on the house that is in my name. At the time of the second remortgage the property was worth £ 150,000 and that mortgage is an interest only mortgage of £87,000. The figure she is going for.
Expert:  Clare replied 2 years ago.
Hi
Your ex has a house with an equity of £160,000
You have a property with equity of £103,000
Whilst there is a vast difference in your incomes your ex could earn more if she chooses
There is simply no basis on which she will get a further £87,000 - indeed £50,000 would be incredibly generous.
You need to bring the matter before the court as soon as possible
I hope that this is of assistance - please ask if you need further details
Clare
Customer: replied 2 years ago.
Really helpful Clare. Thank you. Final question how much do you think taking it to court would cost me?
Expert:  Clare replied 2 years ago.
Hi
If you deal with the matter yourself it will only cost you the court fee of £255
Clare
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