Monday, May 11, 2009

A sign of the times

This story that appeared on the BBC is surely being repeated up and down the country. Young couple Gemma and Ben purchased a property together, but now their relationship has broken down. The problem is that, due to falling property prices, they can't afford to sell and they are therefore forced to continue to live under the same roof. For the moment, this arrangement seems to be working as they remain on good terms. What, though, is it like for couples who are not?

2 comments:

  1. As the saying goes, "I wouldn't start from here". What a mess!

    The only thing that popped into my mind was for one of them to just do one - a runner that is - and leave the mortgage to the other person. Then save and don't make the same mistake again and maybe get back on the property ladder at some point in the future.

    If you are going to buy propery together, since the relaxation of the divorce laws, now the biggest commitment you can make, then you should have agreement on what happens upon break up.

    In this case the agreement would have been to sell and how the delta remaining would be paid or distributed.

    ReplyDelete
  2. Oops, meant having a baby together is probably the biggest commitment you can make. Buying a house together comes in second probably.

    ReplyDelete

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