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A third of ‘silver divorces’ result in the family home being sold

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Those over 50 are dubbed the ‘silver divorcees’ as more older couples get divorced, bucking a trend that has seen divorce rates dropping. Now a new survey from Nationwide Mortgages has shown that 28% of over 50s who have been through a divorce results in the couple selling the family home.

The survey also revealed that 13% ended up downsizing as the need for a large home is removed following the divorce and 8% move into private rented accommodation; more over 50s are now seeking rental accommodation than ever before.

Older couples may have accumulated assets often over many decades of marriage; with everything from furniture to pets were being split after the divorce. One in five (21%) said they had split furniture, a quarter (24%) had shared savings, 6% had shared family heirlooms, and 3% now share the ownership of family pets.

More than half  reported being happier as a result of their divorce.

If you want information from our experienced and dedicated Family & Relationships team please contact us on 020 8299 0021 or visit our website.

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