A mortgage lender is marketing a product aimed at couples whose relationships reached breaking point over the holidays. With research showing a spike in divorce filings, Ipswich Building Society in the UK has launched a Divorce Mortgage Programme to target the newly-single. It says that its product is more favourable towards those who may be overlooked by traditional banks and mortgage lenders due to their reduced financial circumstances. Some of those splitting from partners become single parents in receipt of state benefits, which many lenders will not include in calculating affordability of loans; this programme considers 100 per cent of those benefits.
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