The divorce mortgage

Mortgage providers have dreamed up a solution to married couples who can't afford to divorce, says Sarah Moore – the divorce mortgage.

One much-discussed side effect of the financial crisis was a rise in the number of married couples who had technically split up, but were still living together, because they couldn't afford to get divorced. Now mortgage providers have dreamed up a solution of sorts the "divorce mortgage".

This would allow one person to buy out their former spouse's share of the family home for a set period. Lenders are responding to rising divorce rates among the over-50s, reports The Daily Telegraph. In the last ten years, divorces in this age group have risen by 11%, the biggest jump in any bracket. Of these couples, 28% ended up having to sell their house.

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Sarah is MoneyWeek's investment editor. She graduated from the University of Southampton with a BA in English and History, before going on to complete a graduate diploma in law at the College of Law in Guildford. She joined MoneyWeek in 2014 and writes on funds, personal finance, pensions and property.