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Ask Clare Your Own Question
Clare, Family Solicitor
Category: Family Law
Satisfied Customers: 35054
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 am going through divorce . Decree Nisi is confirmed now.

Customer Question

I am going through divorce . Decree Nisi is confirmed now. We want to agree on finances. We have just mortgaged house. 60k equity. No other assets. I am ( father ) staying with 3 kids in the house. My ex wife, mentally disable live out of the house already. What is my best finance position regarding these 60k ?
The only option is that I am staying in the house. How much I should agree to repay my ex wife and when ? We both have roughly 3,ooo cash each.
Andrejs Svirskis
Submitted: 2 years ago.
Category: Family Law
Expert:  Clare replied 2 years ago.
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
What was the reason for the recent remortgage?
How old are the children?
What income do you each have?
Customer: replied 2 years ago.
I remortgage house for 2 years in August this year to keep interests 9 year old ( with Down Syndrome ) ,7 year, 4 yearsMy year end 5th April was 27k total income. This year it is looking for 18k as I am spending lot of time with kids
My ex wife never worked, was a housewife. I dont think she has a job at the moment, but I am aware that she is looking for that.Thanks
Expert:  Clare replied 2 years ago.
Are there any other assets?
Customer: replied 2 years ago.
No other assets to take into consideration.
We both have low value cars ( 2k each ) No new furniture or fittings in the house.When calculating our finances should we use as it stands today or 6 months ago when we separated ?Regards,Andrejs
Expert:  Clare replied 2 years ago.
Can you raise further capital if need be?
Customer: replied 2 years ago.
No other capital
Expert:  Clare replied 2 years ago.
For clarity - You cannot raise any further capital at the moment?Will the Mortgage Company release your ex from the mortgage?
Customer: replied 2 years ago.
Cannot raise any further capital, correctMortgage, should be ok to released on my name. We repaid nearly 60%. only 40% on mortgage.
I spoke to them. They could release some money for me to repay ex wife based on court letter only. Generally my ex wife agree to get most of money with later date when kids reach 18 even. Main Question for me how much to agree. She wants half of equity. Can I insist that bigger part to be for me ?
Expert:  Clare replied 2 years ago.
How much would they let you have now?
Customer: replied 2 years ago.
They dont let me anything as my salary went down recently and I am on my own with 3 dependent kids now.Only based on court letter I can request for them to raise mortgage and release some equity to repay my ex wife.
Expert:  Clare replied 2 years ago.
If they will not lend you further funds now then a Court Order will not assist.
Since the property is needed as a home for the children your wife will not be able to force you to sell the house so that she can have her share of the capital until your youngest child is 18 or you cohabit.
When the first of those events happens the house will be sold.
The starting point for division is 50/50.
You could try and argue for a 60/40 split in your favour but the fact that she has mental health problems and has not worked in the past could make the Court reluctant to agree to this.
You can however try and negotiate this with your ex using Family Mediation
I hope that this is of assistance - please ask if you need further details
Customer: replied 2 years ago.
Thanks Clare.Does that mean if I start relationships with new women and we start live in that house together, my ex wife may force me to sell the house ? Can I make finance agreement so she has no such right ?Should we agree specific amount and that will not depend on inflation / house prices ?How my debt to wife works : Is that a charge in land registry, while title is transferred to my name ?RegardsAndrejs
Expert:  Clare replied 2 years ago.
Yes I am afraid that if you cohabit your ex could force a sale unless you are able to buy her out completely
I am afraid that she will remain entitled to a percentage of the equity rather than a fixed sum as the Court would not approve an Order which did not allow for this
If the Title is transferred to your name then your ex's interest will need to be protected by a Charge of the Register
Customer: replied 2 years ago.
Hi Claire, I have couple more questions if you can help me.Can we just start mediation ourselfes, agree equity percentage and ask solicitors to prepare agreement ? Or we need to wait when court will appoint mediator as what my ex wife says ?Will Decree Absolute be issued regardless we agreed on finance or not ?
Expert:  Clare replied 2 years ago.
Yes you can and should start mediation - the court does not appoint one!
Decree Absolute can be granted without the financial issues being sorted - but it is better to have least issued the applictaion before applying