When a relationship breaks down the emphasis at the beginning is generally emotionally driven with both parties trying to come to terms with the breakdown. It is often a shock when dividing the assets that your living standards may drop significantly.
Many turn to the well-known institutional lenders to borrow as much as possible to enable them to improve their financial situation.
Until recently the well-known lenders have been reluctant to include all income in their calculations and what they would be prepared to lend you. For example maintenance may not be taken into account. This omission can have far reaching implications on the future.
Happily things are changing with the Ipswich Building Society paving the way and agreeing to include maintenance payments in a mortgage calculation. The only caveat to that is the any payments must be recorded in court order.
This is only one reason why you should see a solicitor as soon as your relationship breaks down; you will be given sound advice which is focused on achieving the best possible outcome for you, which may mean the difference between living frugally and living comfortably.
Call Christine McNeish now and discuss your specific circumstances; Christine’s advice may put you in a much better position for the future.
