It is very common for a couple seeking to separate having mortgage arrears as one party may have moved out of the family home and is renting and cannot afford to rent and also pay a mortgage. Under the Personal Insolvency Act 2014 (as amended) the government have brought in legislation and a process whereby you can restructure your mortgage under a variety of options such as to extend the term, reduce the interest rate or seek a write down of your mortgage balance to the actual market value of your house.
If one party does not want to cooperate or be involved we can go ahead with just one party. The Government has also brought in a scheme called ‘Abhaile’ which provides initial advice that is paid for by the Government, if you qualify:
It is expected that both parties in a divorce will be frank and open about their financial circumstances. You are entitled to see and scrutinise all the bank account statements and credit cards statements your spouse has over the past 12 months – sometimes longer if this is justified. If you think your partner is acting suspiciously, we can help you obtain the right information and review it.
Our experience in dealing with complex judicial separation/divorce cases, many of which contain significant financial assets, means we can often spot when one party is not being completely honest about their circumstances. If we sense at any point that one party is not being transparent, we will advise you on your options.
Since the 31st of January 2020 the UK is no longer covered by EU laws relating to matrimonial matters. However, the Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Act 2020 (pdf) provides for the continued recognition in Ireland of divorces, legal separations and marriage annulments granted in the UK.
