How to manage your mortgage after a divorce

Jessica speaks to us about our tips for managing your mortgage after a divorce

The last thing you want to think about when your relationship is falling apart is your shared assets and finances.

But while it’s something you’re likely to want to push to the side, there are things you can do to help make the process easier on yourself.

“Navigating a divorce when you have a mortgage is all about protecting your financial future – and that means keeping your credit history in tact and retaining an equitable share of the joint assets to build upon for your (and potentially your offsprings) future,” mortgage brokerage Two Red Shoes founder Rebecca Jarrett-Dalton told Yahoo Finance.

“What you do now impacts your all-important next move.”

Here are some of her pointers that will help smooth the bumpy ride and keep your finances in shape:

1. Let the relevant authorities know

Let the lenders know what is going on, Jarrett-Dalton advised.

“Wherever possible I would recommend you keep up your repayments together but don’t rely on someone’s say so – check yourself that this is happening,” she said.

“And if it’s too much for you, apply to the hardship team for assistance.” Just be wary that this may have repercussions if you want to buy again, but it won’t be as bad as the repercussions of sticking your head in the sand, Jarrett-Dalton added.