Exes are living together if they can’t sell their home, a study suggests.
Research shows that difficulties in selling a home are keeping formerly married couples together in their homes.
More than a third of home-owning separating couples, according to a poll by Zoopla, end up living together for more than a year.
Almost half (47%) stated they were unable to move out due to financial constraints, and 37% claimed they had no money at the time of their breakup.
For the latter, 46% of females report being victims.
Rising mortgage rates are a direct outcome of the increase in interest rates that followed the release of the mini-budget by the chancellor, Kwasi Kwarteng, last month.
Couples already struggling to make ends meet may find it more challenging to sell their property as a result of this and the continued cost of living problem.
The survey indicated that staying in the same house after a breakup also raises additional problems.
One-third of people felt awkward in their current situation, and a comparable percentage felt upset.
Twenty-two percent of people said it was “excruciating” to have to live with their ex-partner. Only 10% of people polled stated they were able to maintain civility until they were allowed to live apart.
Nearly one-fifth of respondents said their exes made matters worse by moving on with someone else and inviting the new partner over.
In one in eight cases, neither party was ready to budge, leading to a “stand-off.”
Behavioral psychologist Jo Hemmings stressed the importance of maintaining civility amongst exes who are at odds with one another.
“This may need a bit of emotional detachment from the circumstance,” she said to the Daily Mail. It will facilitate the second stage, which entails moving quickly but carefully.
Physical separation is essential during a breakup. Try to spend a few days with a close relative or trusted friend in order to get some time away from your hectic schedule and focus on the big picture.
Consumer specialist at Zoopla Daniel Copley stated, “Buying a property with a partner is a beautiful, thrilling experience. But if the worst case scenario occurs and you end up breaking up, it will be difficult if you are compelled to continue living together.
“There’s also no denying that a breakup may be costly, what with having to fork out for a new house and mortgage prepayment penalties,” the author writes.
But, he continued, “people may take steps to plan ahead. Save as much money as you can so that you can afford to stay away from home for a period following a breakup and to pay for essential, immediate costs.
“In addition, I would urge property owners to take formal steps to safeguard their equity, such as a deed of trust,”