The rise of the “Silver Splitters”
While many of us may have become incensed by or frustrated with our spouses during the last two years’ increased time at home, many have also felt the need to file for divorce. In fact, the latest ONS data has revealed that in the over 65s, there has been a 46%* Year on Year increase in the number of those obtaining a divorce.
One of the biggest considerations, for any couple thinking about divorce, is the financial implications. Can they afford to share their assets? What happens to their marital home? What about Wills for dividing their estate between their beneficiaries after they’re gone?
But what many don’t know is that Equity Release (or a Lifetime Mortgage) could assist in easing the financial burden associated with divorce. Take a look at the two illustrative case-studies below.
If you are facing the financial difficulties associated with a divorce, while navigating the upheaval, why not speak to us to help look into whether Equity Release could be the right solution for you?
This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration. Check that this mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice.