My 2 year battle to try to keep our home

moving_forward

Hi just my two penny worth re solicitors fees.
I worked as a legal cashier (accounts assistant) in a solicitors many many years ago and did some costing while there.  If it still works the same it's something like.
The hourly rate will be divided up into time units - was 6mins when I did this. Every call letter email meeting etc etc has a certain time rate so long letter could be 5 time units short letter 2 time units.
Now this counts for letters emails calls you make as well. To keep costs down don't make any unnecessary contact and combine as much as you can to one contact. Phone call email etc.
From memory it's the fee earners time that costs mega bucks so a secretary s time will cost but not as much.
Disbursements are the things they have to pay out so searches court fees and the like.
We kept my husband's divorce bill down by not contacting unless absolutely necessary (still cost £££). 
And if your solicitor needs a reminder they work for you not your ex you can always ask for the details of the law society to make a complaint 😉 you can also ask for a transfer to someone else at the firm but remember the more experienced the higher cost.
Hang in there and remember it's hard now but will get better x

Suffolk_lass

Tiredbutdetermined said:

Thanks.
There is no equity in the house to use the pension to play off. My ex is in debt too so a small lump sum that I could use to pay debt/deposit for a new mortgage isn’t an option either
I don’t care about having a slice of his pension but I know I can use it as a bargaining chip on the things that will make a difference to me/the kids. 

It is a book value. If his pension has a CETV of £50k more than yours, you have £25k of his that you can use to write down against debts you both (each) had when he left (irrespective of them being in your name, or his, you have joint and several responsibility for these up to the point where he left). That is the big sum. I suggested the mortgage as you are reducing the debt on a material asset that will be taken into account (unlike a credit card unsecured debt for "stuff" where once it is paid off it has just gone). 

Another option you have is to pay interest only on your mortgage until this is resolved, which might reduce the chance of equity increasing to the point where you cannot afford to buy him out. You could then switch that portion that was capital repayment money to your other priorities of debt, emergency fund and savings. Your affordability position for a mortgage in your own name will improve over time with the regular payment of the mortgage on your own, demonstrating you can afford it.

While I understand your desire to resolve this quickly, you do not need to dance to his tune time wise. Your children's ages drive this.

Tiredbutdetermined

You guys are just awesome. I love how supported I feel and it is cathartic to be able to ramble on about my money woes and get such great advice in response.

I am realising the paying off the £500 credit card doesn’t fit with my sole
mortgage aim but I still think it is important just for my satisfaction and affordability.

I don’t think there is any way of getting a mortgage without a 5% deposit so I need to work hard on the £9000 for that. Some of that should be built via equity and the rest through savings.   

I do tutoring as a side hustle but I have nothing coming in over the Christmas holidays and am a little worried about what might or might not happen in terms of covid in January. 

I have 2 contracts for the summer for exam marking so they should bring me in just under £1000 in July/August so long as GCSEs go ahead this year.

I need to sort my mum a birthday present today so today won’t be a NSD.

I remembered to book our Tesco delivery for Christmas shopping but hadn’t thought about New Year and then realised there were no slots left. I have an early January slot so hopefully we can have freezer grave and stuff from the cupboards so use my disorganisation to be a bit frugal!

My gas and electricity bill went up from £144 a month to £200 in July/August as when my ex transferred it into my name I had a rather lovely £750 debit with the company. The blow up hot tub now lives in the garage and the tumble dryer is no longer in use. I am addicted to checking the smart meter and turned the central heating off on Christmas Eve as I felt if I had the oven on excessively then I wouldn’t need the heating. Now I am just to cheap to want to turn it back on again. I need to get a grip!

I need to have a look at the little things I can do to earn little bits of money to throw at things. I did surveys years ago and I know they are not great earners but every little counts to the larger goal.

savingholmes

The sooner you both fill in the form E the better too at reducing his claim on future assets - or any link to you for any liabilities he runs up

Tiredbutdetermined

I have looked it up and that form definitely hasn’t been completed. 

I am more angry than ever with my solicitor. We are no further forward and it looks as though my hard work on repaying debt already can be taken by him and I could be liable for the debt he is continuing to run up living his best life now.

In real terms my solicitor seems to have done precisely nothing of any use!

fatbelly

Tiredbutdetermined said:

In real terms my solicitor seems to have done precisely nothing of any use!

and charged £225 per hour for doing it!

Tiredbutdetermined

My ex has just text the kids to say he is going on a mini break to Poland with the girlfriend. He is just beyond a joke. He is up to his eyeballs in debt. I was asked to go for a drink in town and have had to say no due to money but he is in the world of European city breaks!

Aspiration

Tiredbutdetermined said:

Thank you for all the comments.

It is really reassuring to hear that so many of you are not convinced by my solicitor. She seemed great on our first meeting but the fees are getting ridiculous for so little progress. She seems to be convincing he that 2 years is fair and reasonable, which it isn’t! 

I have previously stated to her that I am happy with a timescale of 4.5 years so the twins would be at the end of 6th form and my youngest would be between y11 and 6th form but she responded by showing me there were 2 houses to rent in the area at the same cost of my mortgage so I have sensible options. One rental property disappeared the same day, and the other later that week so the rental market will be too fast paced in this area for me trying to sell and move. The moving costs and rental deposit would be yet another barrier.

My ex and his solicitor have tried to state that at the point of sale the equity should be shared despite the fact that by their two year plan I would have created that equity myself with 2.5years of sole payments. I am not in a position to, but if I were, there is no chance I would overpay on the mortgage if there is any chance of me further lining his pockets.  I have had to replace the boiler this week too so I am the one paying upkeep, not him.


I have a lot of debt in my name but am nowhere near maxed out to my limits and have no defaults. My affordability isn’t great but my credit rating is very strong so balance transfers might be a possibility but I am wary of the impact of new credit on my credit rating to take the mortgage.

my ex is being a fudgestick about pension values. His pension transfer value is £50,000 more than mine but his solicitor claims that is a nominal amount so suggests a clean break there!!! In all honesty, I don’t care, the difference is from my maternity leave and time part time when the kids were babies but my pension is pretty decent and I still have many many years left to work! However, his solicitor calling £50,000 a nominal amount whilst trying to force me out of my home just makes me stroppy.

I need to try to find a decent financial advisor as I know they probably can’t do anything for me now but hopefully they can advise me of the best way forward and help me further down the line.

My ex and I tried discussing things without solicitors but he just wanted to manipulate things to his benefit and mediation was just going to be more expense for more of the same. I wish he would listen to my point of view but it involves putting the kids above himself and his girlfriend so that doesn’t work for him.

If £50k’s a nominal value then he won’t mind moving it all across to your pension pot then will he? 

Buffythedebtslayer

Tiredbutdetermined said:

My ex has just text the kids to say he is going on a mini break to Poland with the girlfriend. He is just beyond a joke. He is up to his eyeballs in debt. I was asked to go for a drink in town and have had to say no due to money but he is in the world of European city breaks!

That is ridiculous and irresponsible. He really is beyond a joke!

And I really think you need a new solicitor. She is awful.  

ladyholly

Just to put in my two pennorth I think your first job after Christmas is to ring round and get a new solicitor. Your second is to submit a complaint to her boss and if that doesn't work take it further.