I would suggest that this is vital if you are contributing different amounts to the purchase, or if one of you is taking the burden of the mortgage. 'Whilst you might not feel inclined to spend any more on legal advice than you need to, it could be worth speaking to your solicitors if you are considering co-habiting with someone. And as we all know, it's better to tell your partner something than let them find out.Ĭarl Reader, of D&T accountants suggests that earlier is better than later. It's important that by the time you start trying to get a mortgage, you've made full disclosure to each other about your financial situation, because getting a mortgage is a pretty invasive procedure, and you're not going to be able to hide any debt. Moving in together is a huge a commitment, whether you're buying or renting, but buying makes it even more complicated. But however unromantic it feels, you have to go in with your eyes open. But it doesn't mean you can't take them to Nandos when it's your turn to pick up the bill.īuying a house When you buy a house, you're hoping that the biggest row you have will be about someone leaving wet towels on the bathroom floor. If the person you're dating wants to go for a 15 course tasting menu with paired wines, then that's great. In this case the old etiquette rule about the person who issues the invitation picking up the bill can be a good one. Being honest about feeling a bit strapped and not wanting to go for a lavish cocktail and spa day is a good start on all of the honest conversations you'll have to have if you keep seeing each other long term. In the case that one of you had a whole lot more cash to splash, it's not fair to assume you'll split the bill in fancy restaurants or that you'll pick up the tab on a taxi because your new boo doesn't like taking the tube. If you're both at similar levels in your career and earning around the same, then it's quite straight forward - it's more complicated if there's a wealth imbalance. (Image credit: Rex Features (Shutterstock))ĭating Who pays for what when you're dating is probably the first awkward conversation you're going to have. Whilst you wouldn’t necessarily have a solicitor prepare an agreement for a small family loan it is important that you both set out the terms for any major loans or home buying decisions. In the business world these are avoided by having clear contracts. 'Simply put, neither side knows what the other side is expecting. 'Often, disputes over money between individuals are due to what we call an expectation gap.' says Carl. So, whether you're dating, moving in together, buying a house or getting married, we've got all the awkward money chats you'll ever have with a partner, covered.Ĭarl Reader, from D&T chartered accountants explains that money problems within a relationship are often caused by different expectations. But the truth is, you can't go through your whole adult life without ever discussing the M-word with your partner, and if you're going to do it, you might as well do it right. Discussing money is awkward, embarrassing and can be pretty tacky. In a world where discussing anal bleaching over cocktails is par for the course, there's only really one topic left that we don't like talking about: Money.
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