Joint account

Kun16

Hi! Recently my girlfriend has moved into my house and are both contributing to the mortgage bills etc. I have decided to add her to my joint account as it will be easier than setting up a new one to create less hassle changing direct debits etc! My question is will she be able to see previous statements on that account or just from the moment she was added? Or am I best just opening a new account?

grumbler

I think she will be able to see everything the same as you are.
The question is whether you reaslise that a joint account creates a link between your credit histories so that they start affecting each other. Do you both really want this?

There is no anything that a joint account can do that a singe account cannot except an extra bank card.

Hooloovoo

Kun16 wrote: »

Hi! Recently my girlfriend has moved into my house and are both contributing to the mortgage bills etc.

Do you also realise that if she is contributing to the mortgage then she will have a legitimate claim towards some of your house if you should ever separate?

Sounds like you're setting up massive potential problems for the future here.

getmore4less

Don't create a joint account till you have to with a real financial commitment like a mortgage.


To hard to stop them once set up and it creates a financial link.

If you really want to make sure it is not with you main bank as they can take your money to pay off any joint debts.

camperdown9

Hi

Its totally up to you as to how you deal with money between yourself and your girlfriend. However are you really sure a joint account is the way to go?

There are lots of married couples who don't have joint accounts and or mortgages. For many people keeping money separate is best.

(If you ignore all the legal issues with regards to houses etc if it all goes wrong.) Do you really want her to know how much money you spent on that TV/xBox/night out with the boys etc. Put it another way do you really want to know how much she spent on those shoes/bag?

I always think it must be strange at this time of the year for couples who have joint accounts when it comes to Christmas presents. I mean a look at the bank statement or online account and you will each know how much the other spend and the store that they spent it in.

I totally understand your girlfriend is moving in and its the start of your joint life together. You want to make that secure and feel strong and if you are both working then you should both pay towards the costs of living.

Maybe the way to go might be some sort of agreement as how you split the bills. Example you pay the mortgage & the council tax and she pays for the food bill and for the electricity. You would have to work on this so that its affordable for both of you.

Just an idea

Alex