We acted for the applicant wife in financial proceedings.
An unusual feature of the case involved a second property which the husband purchased, in his sole name, following the parties’ separation. Our client relinquished any interest in the property as her husband had purchased the property with a significant loan from his brother (HSBC loan agreement in place) and assistance with mortgage. The equity in property was circa £5780. The equity in the FMH was circa £352K, other capital assets amounted to circa £131,500, and the total pension pot was circa £238,184.
At FDR – overall settlement was a 60/40 capital split in wife’s favour and 55% pension share in wife’s favour of husband’s pension.
Billed as a once-in-a-generation budget, it was packed with announcements. But there will surely be much more to come in the years ahead as the UK seeks to grow its economy, not least an increase in the VAT rate as the deficit is reduced through higher tax revenues rather than spending cuts.