The effect of summer vacation
September is usually a busy month for family lawyers, as it is a popular month for divorce. Inquiries about divorce tend to increase, especially compared to the month of August, which is quieter as families enjoy the long summer holidays.
In fact, the summer holidays are sometimes seen as a reason for a spike in divorce inquiries in September. Families usually spend more time together, and this can reveal cracks in the relationship that might not have surfaced otherwise.
A similar phenomenon occurs every January, dubbed by the media as “Divorce Day”. Divorce Day is the first working Monday of the year and has historically been the busiest day of the year for divorce inquiries, as the stressful effect of Christmas and New Year’s takes its toll on relationships.
For problematic couples, a summer vacation can bring deep-seated problems into the open. Spending more time together, the need to provide entertainment for the kids, the financial demands of the vacation, and the pressure of having to look good and have a happy family can push relationships to extremes.
One of the main issues we see as family attorneys in September is how financial concerns will manifest after increased holiday spending.
Mortgage rates and economic uncertainty
Financial problems often play an important role in the breakdown of relationships. They have been cited as the reason for relationship breakdowns in record numbers at Stowe over the past 18 months.
Money can be a sensitive topic for even the strongest couples. For those who are already struggling in their relationship, this could be the last straw.
Increasing mortgage rates are having a huge impact on couples in the UK, which may lead to contemplation of divorce.
Some pairs are starting to see old deals expire (some as high as 2%) and new five-year fixed rates as high as 6%, possibly more in the coming months.
Here at Stow, we’ve surveyed 600 people across the UK about how mortgage rates affect families and relationships.
The survey revealed that 82% of respondents have been or will be affected financially by inflation in mortgage rates.
Nearly a quarter (23%) responded that they could no longer pay their mortgage. More than half of the participants said they were experiencing friction in their marriage or relationship because of this issue.
Over the cost of living crisis, Divorce inquiries have risen to record levels, with… Financial issues are regularly cited as a major reason.
The economic climate, coupled with the stress of summer vacation, could be too much for more couples, causing them to consider divorce in September.
Financial problems and domestic violence
However, even taking into account ongoing economic uncertainty and rising mortgage rates, September’s rise in divorce inquiries may not be as large as seen in previous years.
Recently, there has been a rise in the number of people who cannot leave their marriage or relationship due to financial problems.
This is of even greater concern for people trapped in abusive relationships who cannot leave their partner because they cannot support themselves financially on their own.
victims Domestic violence has been hit hard by the cost of living crisis. This is because Financial hardship is associated with increased physical, emotional, and financial abuse.
Furthermore, inflation, and now higher mortgages, may mean that more people cannot afford to divorce or separate from their partner, especially if the abuser uses money as a means of controlling their partner.
Will September 2023 be a popular month for divorce?
For couples who wish to do so Start the divorce processMoney will certainly play a role in the decision. However, it will be interesting to see whether the economic environment tilts things towards the usual increase in inquiries in September or whether there will be a decline in the number of couples wanting to start divorce proceedings.
For those who choose to end their relationship, getting the right support and legal advice is crucial. Anyone who suffers abuse and finds themselves in immediate danger, please contact the police. For advice about domestic violence, please call the National Domestic Violence Helpline on 0808 2000 247.