Is there a difference between co-habiting and getting married when you have a mortgage?

Posted on 5 August 2008

What are the risks of a cohabiting - as compared with married - couple defaulting on their mortgage?

The risks are the same, with a joint mortgage you are both hold joint and severable liability for the debt outstanding regardless of whether you are married, cohabiting or even house mates.

I would advise that you consult a lawyer before entering into a mortgage with another person, to ensure that the split of assets is fair and equitable.

 

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