Savings Account/Credit Score

moochoo2

Hi Everyone

My girlfriend and I are starting to save a deposit to buy a flat/house together. We are planning to open a joint account with Nationwide, but before we do I wanted to check if anyone knew whether this was a bad idea or not.

We live at separate addresses currently and both have 'excellent' credit scores. I understand that by opening this account, it will link us together. Can anyone see any negative effects by doing this? I wondered about the different addresses thing as multiple addresses seems to unnerve the credit rating sites.

Any tips would be appreciated.

Many thanks

Moochoo2

Hooloovoo

Do you trust that she wont find a new fella and run off with all the money?

Do you both pay tax? If so filling up your ISAs would be a more efficient method saving. Then combine the money when you buy the house.

Is there any particular reason why you want to save in a joint account? Instead of asking what are the negatives, have you asked yourself what are the positives? I can't think of any positives to be honest.

Lokolo

Negative effects? You split up, one of you decides to splash the cash and maybe even default. Both of you are e/affected.

Not even sure how the address's would work, I would assume you can only have 1.