Couples divorcing in Britain face an average bill of more than £13,000, new research out today reveals.
Couples divorcing in Britain face an average bill of more than Ł13,000, new research out today reveals.
With 157,000 marriages in Britain ending in divorce every year, research by Norwich Union reveals that more than Ł2 billion is spent by divorcees in the initial twelve months.
The research found that property is the biggest item on the bill with more than a third (35%) forced to sell their home to cover the cost of their divorce.
Becoming an ex also means raiding personal savings to supplement funds. 41% use, on average, Ł6,250 from a savings account which equates to a national withdrawal of around Ł800 million each year.
Divorce tops the grief list with almost half (46%) of those surveyed ranking it as the most stressful experience, above bereavement and redundancy. And because of this, 40% of divorcees said they would never marry again. A typical divorce settlement takes more than a year to negotiate but 60% of those questioned ended their marriages amicably. They also said that an amicable parting makes little difference to the final bill.
Other facts and figures include:
- 28% found it stressful to adjust to single parenthood and 26% found it hard to establish a new social circle
- Maintenance payments were paid or received by less than a third (30%) of people interviewed. Some 6% agreed a lump sum payment
- One in five people (20%) spend cash on items that they would not have bought if not divorced, with a holiday coming out as the top treat and a shopping spree a close second
- Only 2% of people questioned had a pre-nuptial agreement but more than one in four said they would have been better off had they had one drawn up prior to their wedding
- Legal experts remained the primary source of practical advice during a divorce with 51% turning to their solicitor for guidance. A further 35% looked to family for support while 30% relied on friends. Only 7% valued advice from support organisations or counsellors
Louise Goffee, of Norwich Union, said: “Divorce is a traumatic experience for all involved even when the separation is amicable. Not only is it an emotionally stressful time but the experience can add to money worries and increase pressure on the family coffers.
“Real life can throw up lots of surprises and sometimes that can mean that we face tough times as well as good. With four out of ten marriages ending in failure, divorce is a situation that some of our customers may have to deal with at some point during their lifetime.
“We undertook this research to try and understand our customers’ spending patterns so that we can help them to plan for the future. This is particularly necessary as concerns about the savings gap begin to grow.”
Ends
Notes to Editors:
The average marriage lasts just nine years. And with 4.9 million divorced or separated people living in Britain, the Brits now hold the record for the highest divorce rate in Europe. Among men, the average age of divorce is 41 and 39 for women.
Full summary of findings and case studies available on request.
Research was carried out on behalf of Norwich Union by The Survey Shop, who surveyed 280 divorced people nationwide, during May 2003.
Other sources: Relate, ONS
‘Cost of divorce’ calculator:
| Cost | Average amount per person | Proportion who spent | National Cost | |
| Legal fees | Ł1,668 | 52% | Ł272.351m | |
| Maintenance payments | Ł3,324 | 15% | Ł156.560m | |
| Setting up a new home | Ł2,638 | 51% | Ł422.449m | |
| Child care costs | Ł1,685 | 16% | Ł84.654m | |
| Buying a second car | Ł3,358 | 12% | Ł126.529m | |
| Treats: i.e. holidays, shopping spree etc. | Ł6,510 | 16% | Ł327.068m | |
| First year’s mortgage or rent | Ł6,000 | 35% | Ł659.400m | |
| Total : Ł2049.011m (Ł2bn) | ||||
| Cost per person = Ł6,525 |
Media contacts:
Jo Misson, Helen Roache or Liz Fay at QBO Bell Pottinger on 020 7861 2424
| Out of hours | |||
| Louise Goffee | Norwich Union | 08703 66 68 70 | 07810 057362 |
| Lorna Wiltshire | Norwich Union | 08703 66 68 78 | 07788 471849 |
| Ian Beggs | Norwich Union | 08703 66 68 71 | 07790 487533 |
| Weekend contacts: | Jo Carr | 07776 137141 | |
| Jo Misson | 07887 777731 | ||
| Liz Fay | 07885 965966 |
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