Divorced but need financial settlement.

PeterPanic

I have been separated from my ex wife for 2 years now and divorced for 3 months. Although we are divorced, we do not have a financial settlement in place and this is something I now need to do so I can sort out my own finances and hopefully buy my own place eventually.

The only Asset we have is the marital home which she is currently living in with our two children aged 6 and 8. Between us we had verbally agreed to let her live in the house with the children until they are 18, and then split the equity 60/40 in her favour once the house is sold. I am currently paying £500 child support which is basically the amount recommended by the CSA website. I was going to get a solicitor to draw up this agreement, but now I am having second thoughts due to the following.

However, she is now cohabiting with her boyfriend and they have just paid for a loft conversion which has turned the property into a 5 bedroom, 3 bathroom house. I did not give permission for this loft conversion but they went ahead with it anyway. He also has two children and my ex claims they had to do the loft conversion as the house was inadequate for their needs. On top of this they have just bought a new 7 seater car as well.

My argument is that my children were adequately housed previously and it is not my responsibility to house her boyfriend and his children as well. She claims there is no way they can take over the mortgage and no way of buying me out. I am really annoyed that they have spent the best part of £60k on a house and car without even attempting to buy me out. I understand that he is currently in the process of being paid out by his wife, but I suspect they will just keep this money and make no attempt to buy me out.

I personally think they are now over housed and could easily sell the 5 bedroom house and downsize to a 3 bedroom house. His children would not be able to stay over in this situation but I don't see why that should be my concern.

I am really after some advise as the best way to approach this, I would rather not get into a solicitor battle if I can help it, but on the other hand I don't want to sit back with nothing while she lives in a 5 bedroom, 3 bathroom house with double garage.

TBagpuss

Well, I would suggest that you go to see a solicitor and get some specifc, tailored advice about what you may be entitled to.

It's fairly common to have an order giving the non-resident parent a charge back over the house payable when the youngest child leaves school or when the resident parent remarries or cohabits. there is normally a proviso that the house is not to be sold without leave of the court on the remarriage/cohabitation so that the court can ensure that the children are not going to be made homeless.

If your ex wife is already cohabiting then her partner's finances will be relevant. Once that information is disclosed you should be abnle to get a rough idea of what their realistic joint mortgage capacity may be.

If his children visit him then your wife and he don;t need a 5 bed property - depending on the genders of all of the children it should be possible for some of them to share bedrooms during contact visits.

How much equity is there is the house now, and how does that compare with the cost of 3-4 bedroomed properties in your area?

WYSPECIAL

On a positive note if they have added £60k value to the house then long term there is more equity available for you when it is realised. The issue is with your current agreement it will be 12 years before this happens.

Usually with Mesher orders there are trigger points such as remarriage or six months cohabitation.

check https://www.wikivorce.com for more advice