When a couple decides to end their relationship and separate, they are faced with a lot of decisions. If the couple have children, they need to figure out how they will parent moving forward. The couple also needs to decide how they will divide their assets, which may include a family home. If they have taken out a home loan together, they may need to decide what will happen to their mortgage after separation.
There are some common misunderstandings when it comes to what happens to a mortgage after a separation, including who has to pay the mortgage after separation and the options you have to manage the mortgage moving forward.
Whether you’ve recently separated and you’re faced with this issue now or you’re considering taking out a mortgage with your partner now, it’s important that you understand your responsibilities and rights when it comes to breaking up and mortgages, so keep reading.