At Fair for You, we are deeply concerned by the findings of a recent report by Surviving Economic Abuse, which highlights the devastating impact of joint mortgages being used as a tool of economic abuse. Over 750,000 women in the UK - one in eight - who have held a joint mortgage in the last two years have been affected by this form of abuse.
As a social enterprise committed to improving financial fairness and supporting those in vulnerable situations, we believe this issue requires urgent attention and action.
The report, titled Locked into a Mortgage, Locked Out of My Home, sheds light on how perpetrators of domestic abuse are exploiting joint mortgages to create financial and housing instability for survivors. These perpetrators refuse to pay their fair share of the mortgage, block efforts to renegotiate terms, or refuse to sell the property, leaving victims trapped in an abusive relationship while also facing mounting debt and the threat of homelessness. Survivors who try to escape are left with limited options, as they remain tied to the mortgage, unable to access support or make decisions about the property.
The findings are a stark reminder of the economic harm caused by these abusive practices. Our team at Fair for You works to empower individuals with financial support and services to break free from these cycles, and we are calling on the government, financial institutions, and legal experts to strengthen protections for victims of economic abuse.
In a survey conducted by Opinium, over 1,000 UK women with joint mortgages were asked about their experiences with mortgage related abuse. The results are alarming:
78% of respondents reported feeling unable to leave their partner or unsafe living arrangement due to the financial hold created by the joint mortgage.
49% of survivors had to sacrifice essential needs such as food, clothing, or utilities to keep up with mortgage repayments.
89% reported experiencing serious mental health impacts, including anxiety, depression, and suicidal thoughts.
This is a reality that Fair for You is determined to change. We stand with the call for urgent legal and regulatory reforms that can prevent abusers from weaponising joint mortgages. We advocate for:
Stronger support from financial services for individuals facing joint mortgage related abuse, ensuring that firms take active steps to protect victims.
Clearer regulations from the financial services regulator to prevent harm caused by perpetrators misusing mortgage products and services.
A cross government task force on economic abuse, which includes legal experts, financial services representatives, and domestic abuse professionals to address and tackle the issue of joint mortgage abuse head on.
The current legal framework places both mortgage holders jointly and severally responsible for the entire mortgage debt, even in cases of domestic abuse. This is despite the ongoing harm perpetrators continue to cause.
How We Can Help
At Fair for You, we are committed to supporting survivors of economic abuse, providing them with the resources they need to navigate the financial challenges they face, and advocating for systemic change. The time for action is now, and together, we can work towards a future where survivors can escape financial entrapment and build a life free from abuse.
All data is provided by Financial Fairness Trust, you can read more about the report here.