Forget the ring on Valentine’s Day – couples are opting to buy a home instead
More than a third of young couples are buying a house together as a display of commitment rather than getting married, new research has shown. We take a look at why this might be and offer our advice on buying a home with a partner.
February 2, 2016
Planning a surprise proposal this Valentine’s Day? Your partner might be more excited about getting a pair of house keys.
New research from ING International Survey has revealed that 60% of people across Europe were opting to buy a home with their partner rather than pay for a wedding day.
Buying a house together is, of course, a huge display of commitment and a very romantic gesture if you are a young couple.
However, law firm Slater & Gordon found that nine in ten (89%) of couples hadn’t discussed who was entitled to what, should the relationship break down.
Futhermore, over two thirds of couples had never heard of cohabitation agreements, didn’t realise they could protect the money they’d invested and didn’t understand the equity of a property would be divided up if the relationship failed.
So we’ve come to the rescue!
Read our guide on buying a home with a partner or friend to fully understand your responsibilities and the financial commitment you’re making.
When you are sorting out your finances, it can often be a good idea to speak to a mortgage broker, see what they do and how this can be helpful.
If you need further advice or are involved in a dispute, join us as a member and we’d be happy to dedicate our time to answering your questions.