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Advice on my situation (morgages etc)
lawtz04
Posts: 585 Forumite
Hey folks - just wanted to pick your brains as it were!
Situation: Im 23 and wanting in some way shape or form to get on the housing ladder. I still live at home with my parents. I earn a fairly decent amount but cant afford to get on the ladder. However, a close colleague of mine (older lady) has her morgage totally paid off (house worth about 200k) and is looking to buy somewhere to do up and make a profit on. We were thinking of doing this together as it would suit us both. Her experience and financial backing would be superb for me.
However im aware we'd have to take a morgage out together etc. Can anyone tell me if there are risks in doing this sort of thing? Presumably there are. And maybe what sort of morgage we should be thinking about?
THANKS!
Situation: Im 23 and wanting in some way shape or form to get on the housing ladder. I still live at home with my parents. I earn a fairly decent amount but cant afford to get on the ladder. However, a close colleague of mine (older lady) has her morgage totally paid off (house worth about 200k) and is looking to buy somewhere to do up and make a profit on. We were thinking of doing this together as it would suit us both. Her experience and financial backing would be superb for me.
However im aware we'd have to take a morgage out together etc. Can anyone tell me if there are risks in doing this sort of thing? Presumably there are. And maybe what sort of morgage we should be thinking about?
THANKS!
I've just started entering the competitions (July 07). When I win I'll update this signature. Look on the bright side, I shouldn't have to update it very often.
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