How to help mortgage clients get back on their feet post-divorce
Breaking up is always difficult. Quite apart from the emotional aspects, the financial aspects are particularly difficult for both parties, with division of assets often needing solicitors and court orders. Although there is a need for professional advice, too often people think they will simply split the assets - the man gets the pension; the woman (especially if she is the primary carer for the children) gets the house. Or the house might be sold and the equity split between the two. But these are not always the best courses of action; and while it may be a stereotype that the woman ends up with the house and the children, it is also true in the majority of cases. And this comes with its own problems on affordability, especially if the partners were not married. Talking to FTAdviser's senior editor, Simoney Kyriakou, about the issues facing women on divorce and separation are Abbie Hookway, managing director of touchstone education; Preeti Ferrier, area director for Just Mortgages; and Catherine Beaumont, independent mortgage adviser at London Money.
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