It’s hard when a relationship ends, full stop. But it can be made more stressful when you have joint accounts and shared belongings. Below we've given you some helpful starting points and things to consider. 

4 steps to help you regain confidence and control of your finances

1. Review your joint financial responsibilities

Make a list of any loans, credit cards and overdrafts you have to help you both think about how to repay these. Also look at how you'll tackle life and contents insurance, utility bills and any child care costs. Call all of your providers as soon as you can to update them on your change of circumstances. It's also a good idea to update any documents such as your will.


2. Speak to your mortgage provider about your options

Two common approaches are to sell your house and split the equity. Or for one of you to take on the mortgage. Whoever takes this on will need to be able to afford the repayments, so will have their income assessed by the lender. With a joint mortgage, you will both be liable for payments even if one of you moves out.

3. Sorting your bank accounts

You’ll need to agree with your former partner how to deal with any joint accounts. Both of you are liable for any existing debt. If you cannot agree on how to split any credit or debit balances, then advise your bank. They will freeze the account and only act on instructions from both of you.

4. Understand your future financial situation

Take some time to review your income and what financial commitments you need to make. It's a good idea to write down a budget so you know you have enough money to cover all your outgoings. We can help you with a free financial review.

Important legal information

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