After ascertaining the value of the property, you will need to decide if either party wants to keep it. Any party keeping the property will need sufficient borrowing capacity for the existing mortgage and might need to ‘buy out’ the other person’s financial interest.

It is possible for the other party to retain a deferred interest in the property — usually, so that dependent children remain in the family home. In other cases, it may be possible to offset the property’s equity against other assets such as a pension pot, savings and investments.

There can be financial reasons meaning a 50:50 split is not a ‘fair’ division. There may also be a good reason to argue that a greater share of the equity in a property should be retained by one party over the other.