Getting a mortgage is the new getting married
Couples are increasingly showing their commitment to each other not by walking down the aisle, but through buying a home together.
Research from law firm Slater & Gordon suggests that more than a third of young couples believe buying a house together is a way of ‘showing they were committed’ to the relationship, compared to the one in seven who said they thought buying a house with their partner was ‘romantic’.
One in five said they would be happy to buy a house with a partner they had only been involved with for less than 12 months and, rather worryingly, 12% said that buying a property was a way of getting some commitment from their other half.
Indeed, nearly 90% of the 1,500 questioned said they hadn’t discussed who was entitled to what should the relationship break down.
Amy Harris, family law solicitor at Slater & Gordon, said: “Cohabitation agreements have been around for years but recently we have seen more couples coming to us and asking about how they work. It is more difficult than ever to get on the housing ladder and it makes sense that two salaries will put you in a better financial position with regards to what you can afford.
“But investing in a property together can leave you financially vulnerable if things do go wrong. Many of the couples that are coming to us have seen their friend’s hard-earned savings wiped out after buying a house with the wrong person. A break up is hard enough without losing your home and the tens of thousands of pounds you have spent on it.”
How to s(m)ell your home
Research by website A Passion for Homes showed that a third of respondents said the worst thing they experienced on a house viewing was a bad odour, especially of animals, rats, smoke and drains. Damp patches are the next most worrying problem (27%), followed by a dirty home (21%).
London Borough Comparison Tool
There seems to be a rush on new online comparison tools at the moment. The latest is from NatWest
Playroom of the week
The remarkable space ship loft conversion pictured above is the top part of an 11 bedroom detached Grade II listed house for sale in Church Road, London (on for £3,250,000 with Hamptons). And at the end of the 254ft garden is the ‘Lodge’, a playhouse with ’small reception room’ and fireplace, with a room on the first floor. And there’s a billiards room for when the children a bit older.
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