Divorced couples hit by Credit Crunch

July 8, 2008 7:54 pm Divorce and Finance, Mortgages

The credit crunch is hitting everyone, but what about for the many women who are going through a divorce right now? With the slow-down in the property market selling the matrimonial home is proving to be more than difficult than ever and in some cases couples are being forced to continue living together waiting for their matrimonial home to be sold.

It’s proving difficult for one party to secure a mortgage to buy their former partners share, with the properties being worth less than a year ago and with the tightened lending criteria it’s becoming more difficult to secure a mortgage on the properties.

So in the case where the husband has filed for divorce - do you think that women will now defend the divorce for financial reasons, as the pay-out would be a lot less in this current financial climate?

Let me know what you think about this article?