Rise in late-life divorce cases, say 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.
Some experts have referenced infidelity and a ‘lack of excitement’ later on in relationships as amongst the main reasons for late-life divorce.
Others have pointed towards a ‘silver splitter’ trend, after a separate study highlighted a trend between older couples divorcing 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 divorcing 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.
To find out more about the family services we provide, please contact Patrick Hart from our family law team today.