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Harris
Harris, Law Specialist
Category: Law
Satisfied Customers: 1941
Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
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Bought house together in 2002 for 153, 000. I moved out in

Resolved Question:

Bought house together in 2002 for 153, 000. I moved out in 2004 and bought my own place for 165, 000. Agreed to pay her £200 towards mortgage monthly, but managed our own finances. Decided to marry August 2010, she moved in with me whilst the other house was rented. Learnt after marraige that she had worked up £30k in debt. She moved out in May 2013. I took on remaining debt for her as I earn more. She lives back in the house. Both properties are mortgaged, joint house worth £250k with £70k equity. My place worth £195k with £30k equity. Have agreed not to touch each others places, she keeps hers I keep mine but cannot afford to buy each other out and have agreed not to force sale through. Have also agreed not to go after each others income or pensions - very amicable.
Complicated but how do we draw up financial settlement on this?
Submitted: 4 months ago.
Category: Law
Expert:  Harris replied 4 months ago.

Hi, thank you for your question. Are you intending on divorcing or are you seeking a postnuptial agreement?

Customer: replied 4 months ago.
Intending on divorcing as soon as we can. One important piece of information I didn't mention earlier was that she is unable to transfer the mortgage in to her name because of her earnings.
Expert:  Harris replied 4 months ago.

Thanks. Just a bit more information required to fully assist you:
-How old are you both?
-Do you have any children together, if so their ages and proposed arrangements?
-What other assets and pensions do you both have (both sole and joint), together with values?
-What are your respective incomes?

Expert:  Harris replied 4 months ago.

No children from the marriage.
She has daughters from previous, both working but living with her.
I have a son from previous and pay £500 maintenance per month
No assets apart from our cars which are leased
I am 50 this year, she is 55.
Sole pensions, she has 17 year service final salary and a small stakeholder scheme
I ha e final salary of 15 year. Not sure about values of pensions so far
I earn £86k, she earns £30k.

---

Thanks you for your above response (there is no need to start a new question as we can continue here).

Given that you have reached an agreement, you will need to draft a consent order (preferably using a solicitor) to reflect this agreement. You will then each need to fill in a D81 form (a financial information sheet) outlining each of your financial positions, and once the Decree Nisi is granted in the divorce, the consent order and D81s can be submitted to court for the judge to approve. Once approved this will finalise the financial agreement between you.

I hope this assists you. If you found this information helpful please provide a positive rating using the stars at the top of this page. I will not be credited for your question without a positive rating. Thank you.,

Expert:  Harris replied 4 months ago.

Hi, this question remains open. If you found my information provided helpful please could you rate my response positively using the stars at the top of this page as I will not be credited for my response without a positive rating.

Harris, Law Specialist
Category: Law
Satisfied Customers: 1941
Experience: Family Law - Specialist in Divorce, Financial Relief and Children Matters
Harris and 2 other Law Specialists are ready to help you
Customer: replied 4 months ago.
Hi Harris, thanks for the assistance. I was aware of the financial order process but was more concerned how the court would see it as presented given the disparity in salaries. Also, my biggest concern was how the house is dealt with as it will remain jointly in my name as she cannot transfer the mortgage in her name only. I have rated the response now.
Expert:  Harris replied 4 months ago.

This can all be dealt with in the consent order which will be drafted by your/her solicitors to settle the finances

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