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Joint ownership mortgages lenders
Casinoman_2
Posts: 6 Forumite
Hi,
My partner and I plan to purchase our 1st flat together. I've read on some website that it was possible for each of us to own and pay back only a share of the property. We think that the Joint Ownership common tenancy would be our best option. An offset mortgage (with our 2 current accounts offsetting the mortgage) would be ideal.
However, I couldn't find anywhere who is offering such deals. Can anybody help me?
Cheers,
My partner and I plan to purchase our 1st flat together. I've read on some website that it was possible for each of us to own and pay back only a share of the property. We think that the Joint Ownership common tenancy would be our best option. An offset mortgage (with our 2 current accounts offsetting the mortgage) would be ideal.
However, I couldn't find anywhere who is offering such deals. Can anybody help me?
Cheers,
0
Comments
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Do you mean shared ownership - i.e. you buy say 40% of a property and pay rent on the balance.
If so you can indeed do that and I think you may even find an offset option if that has to be one of your requirementsI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
Hi Herbiesjp,
Joint ownership is not shared ownership.
With joint ownership, the persons purchase a fixed share of the property but the property belongs to them as a whole.
Exemple: A gets 70% of the property and pays 70% of the mortgage and B gets 30%.
Cheers,0
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