We Buy Any Home is on hand with the latest divorce statistics in Nottingham. Read this blog post to see how Nottingham compares with the rest of the country and get tips on how to sell a house during a divorce.
How many marriages end in divorce in the UK?
Fewer people are getting married in the UK, so does that mean divorce is less common? Sadly, not.
Here are some stats to put things into perspective. Between 1989 and 2019, marriage rates declined by 36.6%. In 2020, there was an even sharper drop of 61.1% compared to the previous year, although the pandemic likely affected these numbers. 2020 also saw the lowest percentage of religious marriages since records began.
There are all sorts of reasons why marriage has been going out of fashion, including the costs of weddings and the declining significance of religion in society. Notably, young people’s attitude towards marriage has changed. Compared to 2011, there are 1.2 million more unmarried 25-35-year-olds in England and Wales.
But what about divorce rates?
The latest figures reveal that while marriage rates have fallen, divorce rates have increased. In 2021, there were 113,505 divorces granted in England and Wales. It takes the percentage of divorced adults in those two home nations up to 9.1% of the population, with around one-third of all marriages since 1964 ending in divorce in the UK.
All things considered, 42% of marriages are now expected to end in divorce.
What are the divorce rates in Nottingham?
The 2021 census showed the divorce rate in Nottingham to be 10.02%, only slightly higher than the England and Wales averages.
With 10.02% of the adult population divorced, Nottingham has a higher divorce rate than nearby cities Derby (9.61%), Leicester (7.83%) and Sheffield (8.71%).
What are the costs of divorce?
Whatever your opinion on divorce, there’s no denying it’s expensive for the taxpayer. Family breakdown costs the taxpayer a staggering £50b per year, and divorces account for many family breakdowns.
How much does divorce cost the people involved? In the majority of cases, divorce is not free. There are four main costs associated with divorce.
For one, there is currently a £593 fee to apply for divorce in England and Wales. Depending on the nature of the divorce, both parties may also pay legal fees. Retaining a solicitor during divorce proceedings is often a necessary expense.
A financial settlement is another cost associated with divorce. The aim is to divide assets fairly, which does not necessarily mean equally. It can often cause one party to feel like they’ve been on the short end of the deal and lost more from the divorce.
Finally, a child maintenance agreement will be required if the couple has children together. The parent who no longer lives with the child must make a financial contribution to the child’s everyday living expenses.
Divorce can be taxing on the people involved in several other ways beyond monetary costs. Studies show that divorce can create poverty and inhibit child development, as well as the health and well-being of the couple. Experts see the problems created by divorce as damaging to society as a whole.
How do you sell a house during a divorce?
Selling a house during a divorce can be a stressful experience. Both parties would usually like to get it done as quickly as possible, but it’s often quite a slow process with several stages. Rarely is it as simple as putting the house on the market, finding a buyer and splitting the proceeds, although a cash house buyer can help make it easier. Before you can even begin to choose a way to sell the house, the couple must agree on many different things.
Here’s an overview of some of the key stages involved in selling a house during a divorce in Nottingham.
Get consent from both parties
You can’t sell a house during a divorce unless both parties agree. It can be a major stumbling block for many couples as it’s never easy to let go of a home, and one party may be reluctant.
If the spouses cannot agree to sell the house, the matter can be taken to court.
Agree on a financial settlement
In all likelihood, the house will be the couple’s biggest shared asset. As such, it will take centre stage in the divorce settlement. Who gets what from the sale proceeds will be determined by a wide range of factors, not least the financial contribution to the property.
Because this is usually a difficult point in a divorce, it’s common for people to work with a mediator to help the couple communicate better. In an acrimonious divorce, solicitors may be relied upon to negotiate the divorce settlement.
Choose how you want to sell the house
There are many ways to sell a house these days. Which one is right for you will depend on your circumstances. You may decide to sell your house on the open market, in which case it will be crucial to work with a local real estate agent. Generally, this will be the slowest way to sell a house during a divorce, but it may secure the best price for the house.
Sometimes both parties want to speed up the process. In that instance, using a cash house buyer can be the best way to sell the property. We Buy Any Home is Nottingham’s number one cash house buyer. We can buy your home in as little as 7 days regardless of its condition or location, allowing you to avoid the stress of selling on the open market while going through a divorce. Click here to get help selling your house during a divorce.