Many family lawyers are predicting that the stresses of the last year will result in a post-lockdown divorce boom. For couples who own their home, one of the biggest decisions is what to do with the property.

 

One option is to sell the house and split the proceeds of the sale.

Factoring in the costs, including estate agent and solicitor fees, you’ll need to ensure you have enough equity in the property to make this option worthwhile. 

If you don’t own much equity or one of you wants to stay in the property, one partner could buy out the other.

The remaining partner will need to explore whether they could get a mortgage on their income and be able to afford the running costs. 

 

We can help you consider your options.

 

Your home may be repossessed if you do not keep up repayments on your mortgage

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Mortgage lending has soared to record levels, according to latest data from the Bank of England1, which reveals that gross advances in Q1 totalled £83.3bn, which represents a 26.5% increase on the same quarter in 2020 and the highest level since Q4 2007. Impact of the...

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(Your home may be repossessed if you do not keep up repayments on your mortgage)

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For Lifetime Mortgages/Equity Release the fee will be £799.

Our mission is to provide honest mortgage advice, whilst helping you save money.

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Providing helpful and friendly mortgage advice in Southampton

First Floor, 9 Salisbury Road, Totton, Southampton, SO4O 2HW

02380 224 925

info@southcoastmortgages.com

South Coast Mortgage Services Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority. Registered Office: 59 The Avenue, Southampton, Hampshire, SO17 1XS. Registered Company Number: 08414746 Registered in England & Wales.