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.