{"id":6573,"date":"2017-06-24T14:09:46","date_gmt":"2017-06-24T14:09:46","guid":{"rendered":"http:\/\/dominiclevent.com\/blog\/?p=6573"},"modified":"2019-04-17T17:17:12","modified_gmt":"2019-04-17T17:17:12","slug":"coping-with-the-cost-of-divorce-and-how-equity-release-can-help-the-financial-burden-of-splitting-up","status":"publish","type":"post","link":"https:\/\/dominiclevent.com\/blog\/coping-with-the-cost-of-divorce-and-how-equity-release-can-help-the-financial-burden-of-splitting-up\/","title":{"rendered":"Coping with the cost of divorce and how equity release can help the financial burden of splitting up"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div itemprop=\"articleBody\">\n<p>WHEN a marriage breaks down, it\u2019s not only your heart that suffers but also your wallet.<\/p>\n<p>Divorce and separation are painful \u2013 and expensive \u2013 for both parties.<\/p>\n<p>These days, more and more couples are using property wealth to ease the financial struggles of a break-up.<\/p>\n<p>This allows so-called \u201csilver splitters\u201d to stay in their homes and fund new properties, according to leading over-55s financial specialists Key Retirement.<\/p>\n<p>They say nearly one in 10 customers is now divorced or separated, with couples going through break-ups releasing up to 13 per cent more than the average amount released by couples who stay together.<\/p>\n<aside class=\"read-more-links\">\n<h5 class=\"publication-theme-icon publication-theme-border\">Read More<\/h5>\n<\/aside>\n<p>The growing use of equity release for divorce and separation is part of a wider shift. About a third of all divorces in the UK happen to couples aged over 55.<\/p>\n<p>Government figures show that more women over the age of 55 are getting divorced, despite divorce rates having dropped nearly 30 per cent in the last decade.<\/p>\n<p>It\u2019s no wonder that single women account for nearly a quarter of Key Retirement\u2019s sales \u2013 compared with just 11 per cent of clients who are single men.<\/p>\n<p>The rise in divorce among women aged over 55 is partly driven by more financial independence and by people living for longer.<\/p>\n<aside class=\"read-more-links\">\n<h5 class=\"publication-theme-icon publication-theme-border\">Read More<\/h5>\n<\/aside>\n<p>Dean Mirfin, technical director at Key Retirement, said: \u201cThe rise in divorce among women over-55, despite the overall drop among other age groups, is a sad reality and is reflected in the equity release market.<\/p>\n<p>\u201cCouples in that age group will, in general, have more valuable assets to split and more complex finances. \u201cSo there is a need for straightforward and fair solutions, to which equity release can contribute. Equity release enables one partner to remain in the home while allowing property wealth to be shared.<\/p>\n<p>\u201cIt increases the funds available for the other partner to fund a new home and improves their chances of being accepted for a mortgage at a time when finances are stretched.\u201d<\/p>\n<p> Anyone looking to release equity from their home can get Key\u2019s independent guide to equity release by calling 0800 531 6027 or visiting <a href=\"http:\/\/www.keyretirement.co.uk\" rel=\"nofollow\">www.keyretirement.co.uk<\/a> . <\/p>\n<p> <strong>This article is brought to you in association with Key Retirement.<\/strong> <\/p>\n<p> <strong> For your FREE guide to releasing cash from your home call FREE on 0808 208 2362 or visit <a href=\"http:\/\/www.keyretirement.co.uk\/dailyrecord\" rel=\"nofollow\">www.keyretirement.co.uk\/dailyrecord<\/a> <\/strong> <\/p>\n<p> <strong\/> <\/p>\n<p> <strong>Use the calculator below to see how much you could release:<\/strong> <\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"http:\/\/www.bing.com\/news\/apiclick.aspx?ref=FexRss&#038;aid=&#038;tid=9726CE589C1C47E1B35F0603D13A41B2&#038;url=http%3A%2F%2Fwww.dailyrecord.co.uk%2Flifestyle%2Fmoney%2Fmoney-divorce-equity-release-10661885&#038;c=14745090137431304510&#038;mkt=en-gb\">Source link <\/a><br \/>\n<a href=\"https:\/\/dominiclevent.com\/contact-us\/\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/dominiclevent.com\/blog\/wp-content\/uploads\/2017\/01\/footer-300x100.png\" alt=\"\" width=\"600\" height=\"200\" class=\"aligncenter size-medium wp-image-14\" srcset=\"https:\/\/dominiclevent.com\/blog\/wp-content\/uploads\/2017\/01\/footer-300x100.png 300w, https:\/\/dominiclevent.com\/blog\/wp-content\/uploads\/2017\/01\/footer-150x50.png 150w, https:\/\/dominiclevent.com\/blog\/wp-content\/uploads\/2017\/01\/footer.png 600w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>WHEN a marriage breaks down, it\u2019s not only your heart that suffers but also your wallet. Divorce and separation are painful \u2013 and expensive \u2013 for both parties. These days, more and more couples are using property wealth to ease the financial struggles of a break-up. This allows so-called \u201csilver splitters\u201d to stay in their &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/dominiclevent.com\/blog\/coping-with-the-cost-of-divorce-and-how-equity-release-can-help-the-financial-burden-of-splitting-up\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Coping with the cost of divorce and how equity release can help the financial burden of splitting up&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-6573","post","type-post","status-publish","format-standard","hentry","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Coping with the cost of divorce and how equity release can help the financial burden of splitting up - Dominic Levent Solicitors Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dominiclevent.com\/blog\/coping-with-the-cost-of-divorce-and-how-equity-release-can-help-the-financial-burden-of-splitting-up\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coping with the cost of divorce and how equity release can help the financial burden of splitting up - Dominic Levent Solicitors Blog\" \/>\n<meta property=\"og:description\" content=\"WHEN a marriage breaks down, it\u2019s not only your heart that suffers but also your wallet. Divorce and separation are painful \u2013 and expensive \u2013 for both parties. These days, more and more couples are using property wealth to ease the financial struggles of a break-up. 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