The Impact of Interest Rate Cuts on Divorce Settlements
The recent Bank of England interest rate cut to 4% has several implications, including its impact on financial settlements in divorce.
This reduction could make mortgages more affordable, potentially assisting those considering a 'buy-out' option. However, it is worth noting that interest rates remain higher than the historic lows of previous years. Additionally, the rate cut may lead to reduced returns on savings and investments, which could affect both overall financial resources and income.
Economic changes can understandably cause financial anxiety, particularly during a separation. Seeking independent legal and financial advice is strongly recommended to help you navigate these shifts. Many advisers offer an initial consultation at no cost, which can provide invaluable guidance during this challenging time.
At VWV, our experienced family team is here to guide you through every step of your divorce. We understand the emotional and financial challenges you may be facing, and we are committed to helping you achieve a fair and equitable outcome.
For more information or advice, please contact Bindu Malkan in our Family team.