The reality for many women is that they do not have the financial income or reserves to secure a residential mortgage when they are going through a divorce or separation. This is because they haven't worked for many years as a stay at home mum or their financial income has been compromised due to different types of financial abuse.

Expert Caroline Strawson shares some insight below into the challenging situations many women can find themselves in if they have subject to financial abuse within a relationship.

Women might not have been allowed to work in a relationship and will have been the stay-at-home mum, so they would have no financial income of their own or experience to secure a job that would pay enough to secure a mortgage.

Based on a poll conducted within Caroline’s Facebook group, the majority of participants voted that they weren’t earning enough and had no savings or deposits to secure a mortgage and had no choice but to rent.

Women who have been subject to financial abuse may also have had no access to bank accounts or savings if they were not the breadwinner, who leaves them with limited resources other than using debt finance. Debt or lack of names on bills can impact their credit score which can also disadvantage them when it comes to securing rental properties or mortgages. Many women end up renting as the only option until they have built up their own financial history.

Controlling finances is a key component of narcissists to make the women feel powerless, dependent, and isolated.
 

Financial abuse comes in many forms.

• They are sometimes generous with gift-giving, but that gift usually comes with expectations and ultimatums.
• They are secretly squirreling away money into their own account or lying about overtime and income so that they can use it for themselves.
• They expect you to contribute to the family fund, but not to have your own account. 
• They go as far as making you rely on them for money, for transportation, for a roof over your head.
• They do not allow you to work.
• They make you take the next credit card out in your name, not theirs. 
• They pressure you into making a deal when it comes to settling assets and child support after your divorce.
• They continuously take on more debt on the family credit card, without discussing that big purchase with you first.
• They shame you for your spending habits but blow up in a fit of rage when you try to bring up theirs. 

It is sad but that true that this is the reality of many women, and at Prowess Properties we want to provide homes where they can rebuild their life and develop their financial resources. We recommend a range of training programmes and job boards  which can help our residents to transform their financial situation.