Rise in late-life divorce cases, say statistics
Divorce in Britain among the over-50s is increasingly on the rise, say recent figures published by the Office of National Statistics.
The watchdog reported that the number of so-called ‘silver divorces’ nationwide has increased by three quarters in the past 20 years, while the number of ‘younger divorces’ continues to fall.
Others have pointed towards a ‘silver splitter’ trend, after a separate study highlighted a trend of older couples divorcing in order for the parties to remarry younger partners.
Property experts from Your Mortgage Decisions have stressed the complications which may arise for older women hoping to stay on the property ladder after a longstanding estate has been split between divorced partners.
Dominik Lipnicki, of Your Mortgage Decisions, said that older women were “a very vulnerable group when it comes to getting a mortgage.”
He added: “Lenders are still keen to loan to clients who can pay over a longer period, not to a woman who might be in her 70s when the term finishes.
What's more, rents are much higher, so it's more difficult to save for a deposit.” Older couples considering divorce are advised to seek specialist advice, particularly in regards to the division of money, property and pensions.
Please note the contents of this blog are given for information only and must not be relied upon. Legal advice should always be sought in relation to specific circumstances.