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A divorce is not only emotional, in financial terms it is often very complicated. We use the following guidelines but also cooperate with you to work out what we can do for you.
When you are going to get divorced it is important for us to be fully informed as regards the financial arrangements between the two parties involved. This is why we ask for details regarding the submission of a covenant or preliminary injunction in the event of divorce proceedings. This agreement must state what needs to be paid in terms of any maintenance, or what should happen to the rented accommodation or privately owned property. Did you live together (cohabitate), but both of you were responsible for the costs attached to the accommodation? If this was the case, then we require a discharge of joint and several liability.
It is often the case that these documents are not yet available, while at the same time, someone does already want (need) to rent accommodation. In that case, there are several options. Or we include both the mortgage costs and the expected rental costs in the calculation. This is then deducted from the income. If the applicant does continue to meet the income requirement, we can then see whether we can still offer accommodation for rent. In that case, the accommodation will be rented out on the basis of a bank guarantee or deposit.
