Well I have been on to the mortgage provider today, they inform me that as the mortgage is in joint names, he still has access to the overdraft facility, which I also have. This has therefore increased the amount I need to pay each month, as I now need to pay the mortgage interest AND the interest on the £7,200 he withdrew and but into another bank account.
This is the Consent Order:.
A. Upon the husband and wife agreeing that the terms of this order are accepted in full and final satisfaction of all claims for for income, capital and pension sharing orders and of any other nature whatsoever which either may be entitled to bring against the others estate in any jurisdiction howsoever arising in relation to their marriage
B. - contents of house
C. And upon the husband and wife agreeing the neither of them has any legal or equitable interest in the property or assets owned by the other except as provided for in this order
D. And upon the husband and wife agreeing and undertaking that
(a) The matrimonial home and the mortgage secured thereon shall remain in joint names and that
(b) The husband relinquishes any right of occupation of the property with the wife having sole rights of occupation pending sale of the sale of the matrimonial home as set out below.
(c) The wife shall pay the monthly interest payments to the lender with regard to the main account and will keep the home in good state of repair and properly insured at her own expense.
F. And upon the husband and wife agreeing and undertaking that in the event of the wife remarrying prior to the youngest child attaining the age of 18 then
(a) the wife shall have the option to buy out the husbands beneficial interest in the matrimonial home by way of payment of a lump sum representing 50% of the equity (calculated as the market value as decided by an independent jointly instructed valuer paid for by the wife less the main account mortgage balance) and by having the husband removed from his covenants under the mortgage and the husband would in return transfer his interest in the home to the wife. Such option to be exercised within 56 days of wifes remarriage.
(b) in the event the wife does not exercise the option set out avove then the matrimonial home should be sold forthwith and the net proceeds divided equally between the parties.
G. and upon the jusband and wife agreeing and undertaking that in the event of the wife not remarrying prior to the youngest child attaining the age of 18, then on that date the home shall be sold forthwith and the net proceeds divided between the parties as to 60% to wife and 40% to husband.
H. and upon the husband agreeing that he shall pay £350 per month by way of child maintenance to his wife.
BY CONSENT IT IS ORDERED
1. The husbands and the wifes claims made or deemed to have been made for periodical payments, secured periodical payments, lump sum, pension provision and property adjustment Orders do stand dismissed and neither the husband nor the wife shall be entitled to make any further application in relation to their marriage under the Matrimonial Causes Act 1973 9As amended) section 23 (1) (a) or (b), section 24 and section 25 (A) to (D).
2. Pursuant to the Inheritance (Provision for family and dependants) Act 1975 S.15 the court considering it just so to Order neither husband nor wife shall be entitled on the death of the other to apply for an order for provision out of his or her estate.
3. There be no order as to costs insofar as this application and the negotiations ancillary thereto are concerned.
4. Liberty to apply as to implementation and timing of the terms of this Order
Well thats the order in full