Only one fifth of couples have joint bank account



Research has revealed that British couples are more than happy to share everything with each other, apart from money.

Online bank First Direct revealed that the vast majority of those willing to live together, were choosing not to commit to shared financial agreements, or property purchases.

The bank asked 2000 adults about their financial arrangements and found that 58% of couples didn’t open a joint bank account when they moved in together, and that only 21% opened one to pay bills and rent.

Five years ago a similar survey by the same bank found that 26% of people thought couples should have individual bank accounts, showing that more and more couples are now opting to keep the current accounts separate.

Even more surprisingly only 30 per cent of couples rented property with both of their names on the lease, and 18 per cent were both named on the mortgage.

Senior Mortgage product manager from the bank, Richard Tolchard said, “Taking the step of buying a home together is an exciting one, but the head needs to keep the heart in check. This is particularly wise where one party is contributing more than the other to the initial deposit or ongoing household finances.”

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