Hi,
My partner & I are ready to buy our first property together.
We have finally worked out the area (roughly) and have saved enough cash to put down a decent deposit.
We have been advised by friends to go and get some guarantee letters from various mortgage providers now so that we can move relatively swiftly once we see a property that we want.
I am interested in advice from anyone who has taken a joint mortgage out with their partner or spouse, any advice, warnings or tips you may have are most welcome.
We are not married but have been together for over ten years.
I believe that we would sign a tennants in common agreement as my partner will be putting more money into the deposit than myself and is on a higher wage so would be paying slightly more towards the mortgage.
Any advice on the tennants in common agreement, solicitors, etc also greatly appreciated.
As this will be our first buy any advice at all you may have would be a help.
Many thanks
Zipp
My partner & I are ready to buy our first property together.
We have finally worked out the area (roughly) and have saved enough cash to put down a decent deposit.
We have been advised by friends to go and get some guarantee letters from various mortgage providers now so that we can move relatively swiftly once we see a property that we want.
I am interested in advice from anyone who has taken a joint mortgage out with their partner or spouse, any advice, warnings or tips you may have are most welcome.
We are not married but have been together for over ten years.
I believe that we would sign a tennants in common agreement as my partner will be putting more money into the deposit than myself and is on a higher wage so would be paying slightly more towards the mortgage.
Any advice on the tennants in common agreement, solicitors, etc also greatly appreciated.
As this will be our first buy any advice at all you may have would be a help.
Many thanks
Zipp