Separation And Divorce | NatWest International


Dealing with separation and divorce

Practical information to help you sort out your finances after a relationship breakdown

Dealing with separation and divorce Managing your finances

Breaking up is really difficult. It can be hard to know where to begin when it comes to practicalities like sorting out your financial situation. The following guidance should help direct your thinking.

Separate your joint accounts

Don't ignore any joint accounts, loans or credit cards you have. Contact your bank to explain the situation. You can ask them to freeze your joint accounts to stop your ex-partner running up any new debts or withdrawing money. 


You should agree how any joint bills will be paid, especially if they are settled using Direct Debit or standing order.

Review your mortgage

Speak to your mortgage lender as soon as possible and they’ll advise you. You and your ex will need to decide if one of you can afford to stay in the family home and weigh up the options.


Just make sure you keep on top of your repayments while you try and decide what you want. If you don’t, it could impact on your credit rating and cause you both problems in the future.

Consider your assets

Think about how you'll go about splitting up what you own. This can be very difficult, emotionally and financially. 


If you're able to come to a decision together, it's still a good idea to get an experienced lawyer to review the proposed terms. If you can't agree, mediators might help or you may need to make an application to the court who will then decide on what they consider a fair division of assets. 

Review your insurance

If you're no longer living together, remember to update your contents insurance details.


You'll also need to update your life insurance policy as your ex is probably named as the person who the payout would be made to if you died.

Review your will

Make a new will or update your existing one to remove your ex, if that's appropriate.  If either one of you meets someone new, things could get complicated further down the track if your will is out of date. 

It may be a good time to think about having a Financial Health Check to help you organise your finances.

Organisations that can offer support

Money Advice Service

The Money Advice Service have lots of helpful financial information to support those going through separation or divorce. Please note that some of the information on this website may not be relevant in your local jurisdiction.

Visit the Money Advice Service

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