Homes are expensive so it’s not surprising that many of us buy our first property with a partner.
Taking out a joint mortgage can be exciting but it’s also a daunting prospect, and a significant step in any relationship.
Barratt Homes partnered with mortgage and relationship experts to answer common questions about moving in with a partner, gathered from 3,000 Reddit comments, and surveyed 500 homeowners on when they felt ready and why.
They found that the average couple dates for at least one year before moving in together. The top reason for moving in together is spending more time with a partner (37%), followed by starting a family (23%).
However, almost one in three Brits (27%) say they have regretted moving in with a partner.
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Terry Higgins, MD at The New Homes Group, said: “Before committing to a joint mortgage, it’s essential for both parties to align on financial stability, credit scores, long-term goals, and legal responsibilities.
“Open communication, trust, and clear agreements help ensure both are emotionally and financially prepared for the shared commitment and any challenges that may arise.”
Relationship expert Jessica Alderson, co-founder of the dating app So Syncd, added: “Trust, communication, and long-term compatibility are essential when taking this step. A joint mortgage should feel like a natural progression in your relationship—not a way to fix underlying issues. If there’s instability in the relationship, it’s often wise to wait.”
Questions and key considerations
If you are thinking about buying a home with a partner using a joint mortgage, yourselves:
- Do we have a clear and shared vision for our future?
- Are we aligned on long-term goals, like career plans, children, and where we want to live?
- How should we fairly split household expenses and deposit payments if here’s a significant income difference?
- Do we want equal ownership vs proportional contributions: Decide whether to split ownership equally or reflect contributions in the ownership percentage.
- Do we have the right legal agreements? For unmarried couples, consider a legal agreement outlining contributions and ownership to protect both parties.
- Will we contribute equally to renovations or other costs?
- What financial preparations should we make before buying a home?
- Haved we shared details about income, debt, savings, and credit scores.
- What are our long-term plans?
- Do we have a plan for unexpected events like breakups or job loss.
Have we decided how bills, taxes, and expenses will be split.
