The Sunday Times
April 6, 2014
It’s a legal must-have for unmarried couples buying a home
A RISE in unmarried couples buying their first homes is fuelling an increase in “no-nup” contracts being taken out.
Soaring house prices across the country mean that more couples are choosing to cohabit and get on to the property ladder together.
No-nup contracts — another name for cohabitation agreements — work in a similar way to prenuptial agreements, or prenups, setting out how assets will be divided if an unmarried couple splits up.
The law firms Slater & Gordon and Shakespeares have both seen demand for the contracts double in the past year, while the family law office Schillings Family has seen a 50% increase.
Last week the legal website Rocket Lawyer launched a no-nup service costing just £25.
There are now 5.4m cohabiting couples in England and Wales, up from 4m in 2001, according to the Office for National Statistics.