Remortgage

If you are currently going through a divorce or separation and your finances are in your joint names (eg joint mortgage, joint life insurance policy etc) then it is important to seek expert advice. There are several options open to you and your spouse/partner and it may be that you have agreed to sell the marital property and split the proceeds. Although more commonly, particularly if children are involved, the preferred option may be for one of you to stay in the home with the children, and the other to be effectively ‘paid off’ by means of some sort of financial settlement. You will therefore need to get the deeds and the mortgage changed from joint names into just one name.

But what about your life insurance policy? The chances are that this was taken out some while previously (when you were younger and the premiums would have been lower) so don’t just cancel it before looking at the options, otherwise you may find yourself paying unnecessarily higher premiums at a time when finances may be stretched anyway.

All in all this is likely to be a stressful time for you anyway, but it is important that you get good advice from specialists (for instance, you may be penalised with mortgage redemption penalties if you’re not careful). We can provide this specialist financial and legal advice and this service is completely FREE and you do not have to follow our recommendations.

Please call us for an initial discussion.