Silver lining in economic clouds for separating couples

Couples who believe the current downturn prevents them from separating may find a silver lining amid the clouds of economic gloom.

Coventry and Warwickshire solicitors Alsters Kelley say falling house prices can allow couples who have come to the conclusion they are better off apart to achieve the clean break they seek.

Family department partner Adrian Bannister says that as the property price goes down, so does the lump sum either party needs to buy the other out of the family home. Provided the partner seeking to buy the other out is working, then getting a mortgage should be possible.

Although the equity the parties hold in the house may have fallen, so does the sum needed by either one to buy up the outstanding share so, in cash terms, the amounts actually fall.

He said: "We are not encouraging anyone to get a divorce because of the current circumstances but the last thing we want is for people to feel forced to stay together in unsuitable or even dangerous domestic situations. That is particularly the case when children are in the equation.

"There is, naturally, a temptation to wait until things look up again but that should be resisted. Provided that the people involved - and those representing them - are realistic about the relevant issues and are both capable and determined to reach a settlement, then such settlements can be reached.

"Even a year ago when house prices were still rising, such options may not have existed for many so this does, perhaps, offer a silver lining to both the prevailing economic and domestic situation in which people are currently living.”