Be wary of joint loans, expert advises

Divorce lawyer Vanessa Lloyd-Platt suggest that while there is little to be gained from a joint loan arrangement, one or other marriage partner might well end up facing the prospect of paying back the entire debt on their own.

In the event of a relationship breakdown either partner is vulnerable to the other “disappearing” and leaving a serious debt management problem behind them, Ms Lloyd-Platt told This Is Money.

“There’s often little point in signing up for products in joint names, but couples seem to do it because they think it’s the right thing to do,” she is quoted as saying.

Meanwhile, a recent report from insurance firm Churchill revealed that the average amount spent on gifts by those attending a wedding ceremony in the UK is close to £340.