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Divorced over-55s 'find it challenging to obtain secured loans'
New figures have
revealed
that
newly-divorced over-55s face additional problems in having to make
financial
decisions
comma
such as obtaining secured loans on their own for the first time.
Tesco Bank has published figures
showing that
financial independence is a major challenge for those who have
recently
exited from a marriage.
It showed that women are hit worst by this trend, as only a quarter took responsibility for major financial decisions while married.
One in three from this demographic have never obtained a mortgage and ten per cent have never had a financial product or account in their own name.
Sue Hayward, a financial
journalist, has highlighted the challenges that this situation can present.
She said: "There's usually one partner who holds the purse strings in a relationship and it can be daunting if you're left financially single when you separate."
Recent figures published by Aviva have shown that over-55s have seen their incomes fall, savings drop and debts rise due to the rising cost of living.
Copyright
revealed
that
newly-divorced over-55s face additional problems in having to make
financial
decisions
comma
such as obtaining secured loans on their own for the first time.
Tesco Bank has published figures
showing that
financial independence is a major challenge for those who have
recently
exited from a marriage.
It showed that women are hit worst by this trend, as only a quarter took responsibility for major financial decisions while married.
One in three from this demographic have never obtained a mortgage and ten per cent have never had a financial product or account in their own name.
Sue Hayward, a financial
journalist, has highlighted the challenges that this situation can present.
She said: "There's usually one partner who holds the purse strings in a relationship and it can be daunting if you're left financially single when you separate."
Recent figures published by Aviva have shown that over-55s have seen their incomes fall, savings drop and debts rise due to the rising cost of living.
Copyright
Published: 22/09/2011
The information in this article was correct at the time of publication and contains time sensitive data and links, it may not be accurate at the time of reading.