Family, Divorce and Finances
In the case of Yates v Yates [2012], The Court of Appeal ruled that a wife was not entitled to a sum representing mortgage repayments.
In ancillary relief hearings a consent order was agreed which would dispose of all the financial claims by the wife against the husband (except for continuing periodical payments) for a period of three years. The wife had also been awarded a lump sum payment which was intended for her to pay off the mortgage on the former matrimonial home.
The wife instead remortgaged the house and used the advance to purchase a non income producing bond. She then sought to extend the three year term and a recalculation of the capitalisation. The wife succeeded in arguing that as the mortgage had been discharged she would have fewer finances available to invest for future income.
The husband’s appeal was allowed. The lump sum the wife had received had been significantly more than the value of the mortgage. She could therefore not look to her ex-husband to help meet the continuing mortgage payments.
Divorce Solicitors Eastbourne, Hailsham, Polegate, East Sussex
If you would like advice regarding divorce and finance please contact our Family Law Department for a free initial appointment on Eastbourne 01323 727321 or Hailsham 01323 841481.
Nicholas Dennis
Alexandra Funnell
Guy Brown
Carolyn Richards
Please note the above is for information purposes only and is intended to be a short summary. It should not be treated as a comprehensive guide and should not be acted on without qualified legal advice.
