The house is valued at ...£440,000 and there is £51,000 o/s on a private mortgage.(£21000PHIL and £30,000 TRACY)
His last a/v trading a/c showed at £17000, and more recently he stated that he only earned £11000p/a .
He is a retail white goods trader ,and deals a great deal in cash. (sometimes insisting on cash only !!!)
He has a secondary job repairing and installing white goods to various organisations. He has NEVER paid any household bills (other than buying weekly food),(he provided amongst his drinking friends, a partly finished kitchen(est at £4250 as mostly CASH)
On my daughters first divorce 'fairly ' amicable, her then husband said that if she forgo any maintenance for herself, he would provide funds for a small 3 bed property so that his children(2Girls/1boy) were properly housed primarily for their current and long term benefit .
He also agreed to pay the children's maintenance (he has done so)
However when her present husband moved in , the property was too small and Tracy's parents provided £70,000 for a two bed extension , with en suite.
(at that time had to request that he stopped walking about in the nude as her girls were pre- teens.)
It later transpired that with a small shared drive that the neighbours with 4/5 cars and Tracy and Phil with two, there could be a problem.
Tracy located the present house , , but to move required some £79000.
As Tracy could NOT afford any mortgage , her parents offered her a long term loan (from their retirement fund) of £30,000. (to be repaid if and when the house was sold......)
Also Phil put in £19000(CASH) !! and was going to get a mortgage from Nationwide. However with his DECLARED income this might have proved a problem..... As a gesture of goodwill, Tracy's parents provided Phil with a contractual personal mortgage of £30,000( INTEREST FREE 10years) he has repaid £9000 to date and £21000 is outstanding as at this time.
Because she had agreed with her Ist husband that she would provide protection for THEIR children re the property she took out a Pre -Nuptial and a DEED of Trust whereby BOTH her and Philip fully agreed that in the event of the marriage failing then
Phil would receive 10% .....and Tracy would receive 90%.
Tracy might have forgiven his long term adultery.....however it came to light that far more horrendous matters from her husband were evident(there is full evidence to prove these alleged perversions) . and Tracy asked him to leave.
He has been offered a sum greater than his entitlement ,to repay his overall input of £32000
The detail is given so that you understand how the property was obtained.
Thank you Claire
Since he moved out Tracy and her family are existing mainly on ASSURED foods(outdated) and she is running at an annual deficit even though she is working as School support assistant 16.25hrsp/w and some child benefits.)...She does NOT want extra help from her parents as they are now retired.