As the law stands they are one of the factors that the Court can take into account in deciding what is a fair settlement based on the individual case facts.
If you are the party with assets it is better to have one than not.
There is a Case which the Supreme Court is about to announce its judgement on – Radmacher – a German heiress and this may tip the balance either way. There is a general expectation that the Supreme Court will make Pre-Nuptial Agreements more likely to be enforceable because Judges have spoken out suggesting that Parliament should do so. However, I will not be placing a bet on the outcome…
There are lots of people around, divorced and unhappy who wish that they were binding, and who probably also wish that they had taken one out and that they had never married! No doubt there are an equal amount of people around, pleased with their settlement who are also pleased that they were not binding!
The level of uncertainty in English Matrimonial Law is exacerbated by the current situation! David Cameron wants to encourage and support marriage, but must understand that a lot of people choose not to marry because of the potential financial loss they face if the relationship ends. Endorsing Pre-Nuptial Agreements might help increase marriage! I would bet on that!